The National Cotton Council is conducting a series of farm bill educational meetings across the Cotton Belt. Because of the earlier planting dates, the NCC held the first meetings in south Texas where producers have already been doing field work.
This is Part III of our series about the new changes brought about by the Agricultural Act of 2014. Parts I and II gave an overview of the farm bill changes and outlined the new Stacked Income Protection Plan or STAX. In Part III, the National Cotton Council's Craig Brown talks about the Supplemental Coverage Option, or SCO, which farmers can use to protect against the risk of crop losses or market declines.
Both STAX and SCOs will be available to producers of cotton and other program commodities beginning in 2015. (The Agriculture Act of 2014 was passed too late to give USDA enough time to implement all of its provisions in 2014.)
"You will have to make a decision in 2015 because you cannot have STAX and SCO on the same acre," said Brown. "There is a difference in the cost of STAX and SCO, and there are differences in the level of coverage provided. SCO is a nice product, and it is another option that cotton farmers and other farmers will have."
The second round of farm bill briefings by National Cotton Council staffers will begin next week in locations across the Cotton Belt. For a complete schedule of the meetings, go to http://www.cotton.org.
Through this series of videos, we hope to present to you information about some of the changes in programs cotton producers are facing.