- Industry: Government
- Number of terms: 41534
- Number of blossaries: 0
- Company Profile:
A legislative procedure that may be adopted by Congress for considering bills to implement trade agreements. The procedure calls for consultation between the President and Congress as trade agreements are negotiated. Once an implementing bill is introduced, it may not be amended, time for debate is limited, and the bill is subject to an up or down vote. Many agricultural interests support fast track legislation on the grounds that it will facilitate negotiations for enhancing trade and hence possible export markets for farm products.
Industry:Agriculture
One of several measures of hog quality (in this case, leanness) that can be used in determining value. The index was developed by the National Pork Producers Council, an industry trade group.
Industry:Agriculture
Bacteria found in the intestinal tracts of mammals. Their presence in water or sludge is an indicator of pollution and possible contamination by pathogens.
Industry:Agriculture
Animals leaving a feedlot, after fattening on a high protein ration, that are ready to be sold to a packing plant for slaughter. Beef cattle are typically sold to packers at about 1,100 pounds, which yields a carcass weight of about 660 pounds.
Industry:Agriculture
An organization more commonly referred to as Farmer Mac, which is a secondary (resale) market for agricultural mortgages. Farmer Mac was authorized by the Agricultural Credit Act of 1987.
Industry:Agriculture
This Act is P.L. 104-127 (April 4, 1996) which was the omnibus 1996 farm bill that removed the link between income support payments and farm prices. It authorized 7-year production flexibility contract payments that provide participating producers with fixed government payments independent of current farm prices and production. The law specified the total amount of money to be made available through contract payments under production flexibility contracts for each fiscal year from 1996 through 2002. Payment levels were allocated among contract commodities according to specified percentages, generally derived from each commodity’s share of projected deficiency payments for fiscal 1996-2002. The law increased planting flexibility by allowing participants to plant 100% of their total contract acreage to any crop, except with limitations on fruits and vegetables. The authority for acreage reduction programs was eliminated, while nonrecourse loans (with marketing loan repayment provisions) were continued in a modified form. Minimum loan rates generally were calculated each year at 85% of recent past market prices. Authority for the Farmer-Owned Reserve Program was suspended through the 2002 crop year. Authority for the honey program was eliminated. Dairy price supports were phased down for milk over 4 years and then eliminated. A new recourse loan program was initiated for dairy products starting in the year 2000. The peanut program was continued but revised to reduce the likelihood of the federal government incurring loan program costs due to loan forfeitures. The minimum national poundage quota was eliminated. The sugar program also was continued but modified. Trade and food aid programs were reoriented toward greater market development, with increased emphasis on high-value and value-added products. Other provisions established a Commission to conduct a comprehensive review of changes to production agriculture under the 1996 Act, required USDA to conduct research on futures and options contracts through pilot programs, capped expenditures for the Export Enhancement Program, and changed the name of the Market Promotion Program to the Market Access Program. The 1996 Act also reauthorized the Food Stamp Program for 2 years and commodity donation programs for 7 years, and established a Fund for Rural America to augment existing resources for agricultural research and rural development. Other research authorities were revised and extended, some only for 2 years rather than 7 years. The 1996 Act authorized new enrollments in the Conservation Reserve Program to maintain total acreage at up to 36.4 million acres. Other conservation programs were also revised and extended. The Act also contained numerous provisions in the areas of farm credit, rural development, and generic commodity promotion through check-off programs, among others.
Industry:Agriculture
A voluntary risk management tool, available to farmers since the thirties, that protects them from the economics effects of unavoidable adverse natural events. Administrative costs are appropriated by the Congress and 30 percent of the insurance costs are federally subsidized.
Industry:Agriculture
The wholly owned federal corporation within USDA that administers the federal crop insurance program. The FAIR Act of 1996 created an Office Of Risk Management (which USDA has renamed the Risk Management Agency), which houses the FCIC.
Industry:Agriculture
This Act is Title I of P.L. 103-354 (October 4, 1994). Beginning with the 1995 crops, it modifies the federal crop insurance program by authorizing a new catastrophic (CAT) coverage level available to farmers. The premium on this level of coverage (crop losses in excess of 50% receiving a payment of 60% of the market price of the insured crop) is 100% subsidized by the government, but requires a farmer to pay a $50 per crop per county administrative fee. The Act allows farmers to purchase additional insurance coverage providing higher yield or price protection levels, with the premium on this buyup coverage partially subsidized by the government. The Act also creates the Noninsured Assistance Program (NAP), a permanent disaster payment program for crops not covered by crop insurance. The 1994 Act amends and in many cases suppresses major portions of the Federal Crop Insurance Act of 1980 (P.L. 96-365, September 26, 1980) which serves as the authorizing statute for the federal crop insurance program. The 1980 Act expanded the scope of the crop insurance program and permitted USA to subsidize farmer premium payments.
Industry:Agriculture
An entity within the Farm Credit System (FCS) that manages and coordinates the sale of system-wide bonds and notes in the national financial markets. Since the FCS, by law, is not permitted to accept customer deposits, these bonds and notes are the FCS’s primary source of loanable funds.
Industry:Agriculture
