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24 brad lubben
1. Changing Farm Policies for
Changing Times
Bradley D. Lubben, Ph.D.
Extension Assistant Professor and
Policy Specialist
Department of Agricultural Economics
University of Nebraska-Lincoln
UNL Farm Bill information – farmbill.unl.edu
USDA Farm Bill information – www.usda.gov/farmbill
2. Farm Bill Goals
■ A continued evolution toward risk
management
■ 1930s – 1996
• Supply control and price support
■ 1970s – present
• Income support
■ 1980s – present
• Risk management
3. Farm Bill Goals
■ Supply control and price support
(1930s – 1996)
■ Marketing allotments
■ Production quotas
■ Non-recourse commodity loans (-1985)
■ Acreage reduction (-1996)
■ Government stocks/farmer-owned reserve (-1996)
4. Farm Bill Goals
■ Income support
(1970s – Present)
■ Target prices/deficiency payments (1973-1996)
• Counter-cyclical payments (2002-present)
■ Non-recourse marketing loans (1985-present)
■ Direct payments (1996-present)
5. A Short Review of Direct
Payments
Decoupled, fixed, transition(?) payments
■ Popular in 1996 ■ Popular target in
because of 2011 because of
■ Flexibility ■ Paid regardless of
■ WTO friendly price and income
■ Secured a ■ Accrue to large
disappearing farms
baseline ■ $5 billion/year
6. Farm Bill Goals
■ Risk Management
(1980s – Present)
■ Modern crop insurance legislation of 1980, 1994,
and 2000
■ Ad hoc disaster assistance
• SURE (2008-2011)
■ ACRE – (2008-present)
11. Managing Risk with the Farm
Income Safety Net
“A Multiplicity of Confused Concepts”
Scope of Risk
Farm Level Area Level National Level
Protection
Hedging
Price
ML/LDP CCP
RP/HPE AGR GRIP ACRE
Revenue DP SURE
RP
Production
CAT YP GRP PRF