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2024 Commodity Program Decision from the PLC Perspective

Author

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  • Zulauf, Carl

Abstract

This article is the latest (farmdoc daily, January 16, 2024; January 23, 2024; January 30, 2024; and February 6, 2024) to explore the 2024 commodity program decision. A price ratio is discussed that has been a useful indicator if ARC-CO (Agriculture Risk Coverage – county version) or PLC (Price Loss Coverage) will have the higher US average payment per base acre (see farmdoc daily, December 9, 2021 and February 20, 2023). The perspectives that underpin this price ratio are to focus on assessing whether or not PLC will make a payment and, if no PLC payment is expected, to favor ARC-CO since it can make payments for low yields. As of December 2023, the price ratio suggests PLC is unlikely to make payments except for peanuts and seed cotton, and maybe long-grain rice. Recent market price weakness however adds nuances to the 2024 commodity program decision.

Suggested Citation

  • Zulauf, Carl, 2024. "2024 Commodity Program Decision from the PLC Perspective," farmdoc daily, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics, vol. 14(26), February.
    • Handle: RePEc:ags:illufd:358286
    DOI: 10.22004/ag.econ.358286
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