Market News & Headlines >> Final 2019 MFP Payments on the Way
U.S. farmers will start to receive the third and final tranche of 2019 market facilitation program (MFP) aid payments by the end of this week, the U.S. Department of Agriculture said in a statement on Monday.
USDA has already paid two out of three parts of a $16-billion aid package announced in May to assist farmers suffering from damage due to unjustified trade retaliation by foreign nations, and the third had been expected in January.
The first tranche was comprised of the higher of either 50% of a producer’s calculated payment or $15 per acre, which may reduce potential payments to be made in tranche three. The second tranche was 25% of the total payment expected, in addition to the 50% from the first tranche.
MFP payments are limited to a combined $250,000 for non-specialty crops per person or legal entity. MFP payments are also limited to a combined $250,000 for dairy and hog producers and a combined $250,000 for specialty crop producers. However, no applicant can receive more than $500,000.