Pasture, Rangeland, and Forage Drive Increased Participation in Federal Crop Insurance Program

Dylan Turner () and Francis Tsiboe

Amber Waves:The Economics of Food, Farming, Natural Resources, and Rural America, 2024, vol. 2024

Abstract: Farmers use the Federal Crop Insurance Program (FCIP) as a tool to manage revenue variations attributable to yield and price fluctuations. While traditional field crops like corn, soybeans, and wheat historically have accounted for most of the acres insured by the program, forage crops now make up an increasing portion. The Federal program includes the Pasture, Rangeland, and Forage insurance plan, which covers producers when a lack of precipitation occurs that can result in a loss of forage for grazing or for hay. Increasing participation in this plan has contributed to the majority of growth in FCIP-insured acreage over the last several years. However, the relatively lower value of forage means its contribution to other measures of participation is less prominent.

Keywords: Agribusiness; Agricultural Finance; Climate Change; Crop Production/Industries; Demand and Price Analysis; Farm Management; Financial Economics; Production Economics; Risk and Uncertainty (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersaw:343336

DOI: 10.22004/ag.econ.343336

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