New Farm Programs in the 2014 Farm Bill: Price Loss Coverage, Agricultural Risk Coverage and the Supplemental Coverage Agricultural Insurance Option for Wyoming Farms and Ranches

Abstract

The Agricultural Act of 2014 was signed into law on February 17, 2014 by President Obama. The Act, widely referred to as the 2014 Farm Bill, introduces major changes in many U.S. farm programs that are important for farm and ranch owners and managers in Wyoming. Under the provisions of the 2014 Farm Bill, several long standing programs related to farmers’ and ranchers’ risk management decisions that have been widely used by Wyoming agricultural producers were terminated or are being phased out while several new programs have been introduced.