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Authorized by the Agricultural Adjustment Act of 1938, these quotas (sometimes called poundage quotas) limit marketings of certain commodities. The marketing quota, which must be approved by at least two-thirds of the eligible producers voting in a referendum, is intended to ensure an adequate and normal supply of the commodity, and ensure that production and supplies are not excessive. Growers who market in excess of their quotas pay penalties on the "excess" and are ineligible for government price-support loans. Quotas have been suspended for wheat, feed grains, and cotton since the 1960s. Rice quotas were abolished in 1981. Marketing quotas still are used in conjunction with the tobacco program and the peanut program. The authority for standby marketing allotments for domestically produced sugar and crystalline fructose mandated by the FACT Act of 1990 was eliminated by the FAIR Act of 1996.
Industry:Agriculture
Orders and agreements (authorized by the Agricultural Marketing Agreement Act of 1937, as amended) allow producers to promote orderly marketing through collectively influencing the supply, demand, or price of a particular commodity so as to create orderly marketing. Research and promotion can be financed with pooled funds. Once approved by a required number of a commodity’s producers (usually two-thirds) the marketing order is binding on all handlers of the commodity within the geographic area of regulation. It may limit the quantity of goods marketed, or establish the grade, size, maturity, or quality of the goods. Marketing orders have been established for milk, fruits, vegetables, and other commodities. Marketing agreements may contain more diversified provisions, but are enforceable only against those handlers who enter into the agreement. An order can be terminated when a majority of all producers favor its termination or when USDA determines that the order no longer serves its intended purpose. See market allocation, orderly marketing, prorate, reserve pool, shipping holiday, and specialty crops.
Industry:Agriculture
The 12-month period, generally from the beginning of a new harvest, over which a crop is marketed. For example, for wool, mohair, and Hawaiian sugarcane, the marketing year is January 1-December 31; for honey, it is April 1-March 31; for wheat, barley, and oats, it is June 1-May 31; for flue-cured tobacco, it is July 1-June 30; for cotton, peanuts, and rice, it is August 1-July 31; for corn, sorghum, soybeans and sugar beets, it is September 1 - August 31; for soymeal, soyoil, mainland sugarcane, all tobacco but flue-cured, and milk, it is October 1-September 30. The crop marketing year beginning and ending dates are published by NASS in the Agricultural Prices annual summary. In contrast, the crop year is the calendar year of production.
Industry:Agriculture
The difference between the retail price of a product and the farm value of the ingredients in the product. This farm-retail spread includes charges for assembling, storing, processing, transporting, and distributing the products.
Industry:Agriculture
Under certain agricultural programs; that quantity of a commodity that will provide adequate and normal market supplies. When marketing quotas are in effect (only after approval by two-thirds or more of the eligible producers voting in a referendum), growers who produce in excess of their farm allotments are subject to marketing penalties on the "excess" production and are ineligible for government price-support loans. Quota provisions have been suspended for wheat, feed grains, and cotton since the sixties. Rice quotas were abolished in 1981. Poundage quotas are still in use for domestically consumed peanuts, but not for exported peanuts.
Industry:Agriculture
A loan settlement provision, first authorized by the Food Security Act of 1985, that allows producers to repay nonrecourse loans at less than the announced loan rates whenever the world price or loan repayment rate for the commodity is less than the loan rate. Marketing loan provisions became mandatory for soybeans and other oilseeds, upland cotton, and rice and were permitted for wheat, feed grains, and honey under amendments made by the FACT Act of 1990. The FAIR Act of 1996 retains the marketing loan provisions for feed grains, wheat, rice, upland cotton, and oilseeds.
Industry:Agriculture
Authorizes producers to repay their commodity loan at a lower "market" level.
Industry:Agriculture
Prices (or pricing mechanisms) are established for a commodity before harvest or before the commodity is ready for marketing. Most management decisions remain with the grower, who retains ownership of both production inputs and output until delivery. The farmer assumes the risks of production but shares price risks with the contractor. Marketing contracts are commonly used for crops and not livestock. According to the USDA, about 40% of the value of all fruits and vegetables produced in 1997 were under marketing contracts. Marketing contract shares for selected other commodities were: sugar beets, 82%; milk, 60%; cotton, 33%; cattle, 10%; soybeans, 9.4%; corn, 8%. See production contract.
Industry:Agriculture
A certificate that may be redeemed for a specified amount of CCC-owned commodities. The certificates may be generic or for a specific commodity.
Industry:Agriculture
Nonrecourse loans made available to producers of wheat, feed grains, upland and ELS cotton, rice, soybeans, and minor oilseeds under the Agricultural Market Transition Act provisions in the FAIR Act of 1996. The new law largely continues the commodity loan programs as they were under previous law. Loan rate caps are specified in the law. Marketing loan repayment provisions apply should market prices drop below the loan rates. For farmers who forego the use of marketing assistance loans, loan deficiency payment rules apply.
Industry:Agriculture
