Farm Programs
Kentucky has 16,548 contracts protecting 342,219 acres. Kentucky producers received $29.5 million under CRP for FY2007.
In 2001, USDA and the Commonwealth of Kentucky agreed to implement CREP on a section of the Green River to restore up to 100,000 acres.
Non-insured Assista nce Program (NAP) The program covers non-insurable crop losses and planting prevented by disasters. Eligible crops include commercial crops and other agricultural commodities produced for food or fiber for which the catastrophic level of crop insurance is not available.
Direct and Counter-cyclical Program The Commodity Title of the Farm Bill helps to stabilize agriculture by providing payments to eligible producers who enroll their farm each year. Kentucky farmers received $80.2 million in Direct Program payments for 2007.
FSA may make loans to build or upgrade farm storage and handling facilities. The maximum term is 7 years. In FY2007, $1.8 million were loaned to Kentucky farmers.
Marketing assistance loans provided producers interim financing at harvest. For 2007, Kentucky made 452 loans for $31.8 million.
Kentucky producers received $181,771 in market loan gains and Loan Deficiency Payments (LDP) in fiscal year 2007.
The MILC program compensates dairy producers when domestic milk prices fall below a specified level. The program was extended through Sept. 30, 2007. In FY2007, Kentucky dairy operators received $2.1 million to help compensate for low milk prices.
FSA makes and guarantees loans to farmers who are temporarily unable to obtain private commercial credit. Under the guaranteed loan program, FSA guarantees loans made by commercial agricultural lenders up to 95 percent of any loss.
Farm ownership loans may be used to purchase or improve real estate or reorganize the farm business. In FY2007, loans exceeded $39.9 million.
Farm operating loans may be used for normal operating expenses, machinery and equipment, real estate repairs, and refinancing debt. In FY2007, loans exceeded $38.3 million.
Socially Disadvantaged applicant is one of a group whose members have been subjected to racial, ethic, or gender prejudice with out regard to his or her individual qualifications. In FY2007, 213 farm loans were made for $6.1 million.
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