The Farm Service Agency administers Average Crop Revenue Election (ACRE), a new program authorized by the 2008 Farm Bill that begins in crop year 2009. Through ACRE, USDA offers producers an alternative to Direct and Counter-cyclical (DCP) payments. The ACRE alternative provides eligible producers a state-level revenue guarantee, based on the 5-year state Olympic average yield and the 2-year national average price. ACRE payments are made when both state- and farm-level triggers are met. By participating in ACRE, producers elect to forgo counter-cyclical payments, receive a 20-percent reduction in direct payments and a 30-percent reduction in loan rates. ACRE sign-up dates will be announced soon, or a producer can choose to stay with DCP. A decision to elect ACRE binds the producer to the program through the 2012 crop year, the last crop year covered by the 2008 Farm Bill.

WASHINGTON, March 31, 2009 - Secretary of Agriculture Tom Vilsack announced today that USDA has extended the sign-up deadline from June 1, to Aug. 14, 2009, for both the Direct and Counter-cyclical Program (DCP) and the forthcoming Average Crop Revenue Election (ACRE) Program. This action extends the sign-up deadline by 10 weeks to give producers ample time to decide whether to participate in ACRE or remain in DCP.

WASHINGTON, April 10, 2009 - Agriculture Secretary Tom Vilsack today said that USDA will begin using an improved and more stable system for determining non-recourse marketing assistance loan repayment rates and loan deficiency payment rates for wheat, feed grains, pulse crops, oilseeds, wool, mohair and honey.

"The new method will moderate fluctuations of the loan repayment rate," said Vilsack. "In keeping with President Obama's commitment to American agriculture, this decision reduces the effects daily market volatilities have on loan repayment rates and provides more certainty for producers who have taken advantage of marketing assistance loans or loan deficiency payments."

WASHINGTON, April 7, 2009 - Agriculture Secretary Tom Vilsack today announced that the new regulations for the Marketing Assistance Loans (MAL) and Loan Deficiency Payments (LDP) program have been implemented in accordance with the 2008 Farm Bill.

"Both President Obama and I want to ensure that farmers can produce agricultural products without fear that they will not earn fair market value for what they harvest," said Vilsack.