| WASHINGTON, D.C. – This week signup begins for the 2008 Direct and Counter-cyclical Payment Program (DCP), and Congressman Berry (AR-01) is urging farmers and other landowners with base acres and yields to sign-up before the September 30th closing date.
Contracts are available at all United States Department of Agriculture (USDA) Service Centers or sign-up online. They can choose payment options, assign crop shares and sing and submit their contracts from any computer with interest access, which will also allow them to view and print submitted contract options.
The USDA computes DCP payments using base acres and payment yields established for each farm. Eligible producers receive direct payments at rates established by statute regardless of market prices. For 2008, eligible producers may request to receive an advance payment of 22 percent of the direct payment for each commodity associated with the farm. USDA will issue advance direct payments as soon as practical after enrollment.
Final direct payments will be issued after Oct. 1, 2008. Counter-cyclical payments vary depending on market prices, and are issued only when the effective price for a commodity is below its target price (which takes into account the direct payment rate, market price and loan rate).
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