One hardly knows where to begin commenting on USDA’s $12 billion farm aid package designed to help farmers and ranchers financially blindsided by the POTUS’s trade war with China. The Market Facilitation Program is complicated but here are the highlights:
MFP includes $4.77 billion in direct payments to farmers. Soybean farmers get the lion share – $3.6 billion. On the other hand, the total allotted to corn farmers is $95 million. Pork producers fair little better at just over $290 million. Beef producers get zero. Soybean farmers will receive $1.65 a bushel, wheat producers 14-cents a bushel and corn farmers 1-cent a bushel on half of their production. Hog farmers get $8 a pig. For row crops, the money will not be paid till after harvest. And oh yeah, it’s capped at a maximum of $125,000 a farmer.