New Programs in the 2014 Farm Bill: Price Loss Coverage, Agricultural Risk Coverage and the Supplementary Coverage Options for Montana Farms and Ranches

Abstract

The 2014 Agricultural Act 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 aspects of U.S. farm programs that have important implications for farm owners and farm managers in Montana. Under the provisions of the 2014 farm bill, several long- standing farm programs related to farmers’ risk management, which have been widely used by Montana farmers and ranchers, have been terminated or are being phased out, while several new programs have been introduced.