Growers who are interested in USDA’s targeted assistance program for cotton producers need to sign up quickly. USDA’s Aug. 5 deadline is quickly approaching.
The one-time cost share payment is based on 2015 cotton acres reported to the Farm Service Agency (FSA) and multiplied by 40% of the average ginning cost for each production region, according to USDA. Growers can sign up through their local FSA offices, and payments will be processed as applications are received.
FSA is providing an estimated $300 million through the Cotton Ginning Cost-Share program with the intention of expanding the domestic marketing of cotton.
There are eligibility requirements that can be found at FSA offices or online. Growers have a $40,000 per person payment limit, must be actively engaged in farming, meet conservation compliance and not exceed a $900,000 adjusted gross income limit.
Cotton producers planted 10 million acres to the crop this year, a 17 percentage-point increase from 2015. Overall, the crop appears to be doing well with 56% good to excellent ratings nationwide. Virginia seems to lead the pack in good crop conditions with 83% good to excellent with Louisiana following at 79%.
Have you signed up for the one-time cost share program for cotton producers? Let us know in the comments.