By J. Larry Miller
Heavy rains across southern Illinois this weekend may have resolved the low water levels on the Mississippi River. The National Weather Service said that by Thursday the water level of the Mississippi River at St Louis will be up nearly 2 feet from last Wednesday, bringing it to the highest level in almost a month. At Thebes, the water level has jumped almost 9 feet since last week. This does not mean that the long affects of the drought are over but I have noticed that Rend Lake water level is up and there is a lot of mud around my cattle feeding bunks.
USDA’s Farm Service Agency (FSA) reminds producers that the American Taxpayer Relief Act of 2012 extended the authorization of the Food, Conservation, and Energy Act of 2008 (the 2008 Farm Bill) for many Commodity Credit Corporation (CCC) commodity, disaster, and conservation programs through 2013. FSA administers these programs. This affects every farmer in Franklin County so use these cold days to get your farms enrolled.
The effects of this summers’ drought continues to cause problems for farmers. Several farmers are waiting to receive their crop insurance checks after going through audits because claims were so high. These audits require a review of the past 3 years’ production records to confirm actual production history. As they wait, cash flow can be a problem as the large number of claims makes a heavy load for crop claims adjusters. Kansas State University crop insurance expert Art Barnaby says 2012 drought claims aren’t breaking the bank. Looking at loss ratios, and with IL and IN claims still being filed, Barnaby says, “What is also clear is the 2012 crop insurance losses are going to much lower than the original estimates. The (USDA) underwriting loss may even be less than $3 billion.” Total claims (from USDA and company funds) paid as of January 14 were $11.581 billion.
Dale Durcholz will be making a market update presentation here at Farm Bureau on Tuesday January 29th. Please call for reservations for breakfast at 435-3616.
House Republicans appear confident they have the votes to pass a short-term debt ceiling increase as they attempt to dispatch with this fiscal battle to focus on bigger ones ahead. The legislation would suspend the $16.4 trillion debt limit to allow the nation to continue to borrow money to pay its bills for another three months and then increase the legal limit to that new debt level. I thought they saved us from the financial cliff but it looks as if were are in a free fall!
Remember we are farmers working together. If we can help let us know.
Speak Your Mind
You must be logged in to post a comment.