PRICE LOSS COVERAGE
• Price Protection Program
• Payments issued when prices for covered commodities fall below the reference price.
Effective Price = HIGHER of the following:
–National Average Market Price (MYA) for the applicable marketing year as determined by the secretary
–National Average Loan Rate in effect for the applicable marketing year
Payment Rate = Difference between reference price and the effective price as determined on previous slide
–NOTE: If the difference between the reference price and the effective price is zero or negative, no payment will trigger.
Payment Yield = Your 2013 CC Yield or your Updated PLC Yield
Payment Acres = 85% of our base acres for the covered commodity
- 100 base acres = 85 payable base acres
•Payment rate; by
•Payment yield; by
NOTE: PLC Payments are not dependent on the planting of covered commodities with the exception of Generic Base.