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Discussion: What Have We Learned from the New Suite of Risk Management Programs of the Food, Conservation, and Energy Act of 2008?

Published online by Cambridge University Press:  26 January 2015

Bradley D. Lubben  and
James L. Novak
Bradley D. Lubben
Affiliation:
Department of Agricultural Economics, University of Nebraska-Lincoln, Lincoln, Nebraska
James L. Novak
Affiliation:
Department of Agricultural Economics and Rural Sociology, Auburn University, Auburn, Alabama
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Abstract

New revenue-based support programs in the 2008 Farm Bill represent a fundamental shift in farm programs and risk management decision-making. However, complexity, uncertainty, economics, and, arguably, an incomplete analysis of the new Average Crop Revenue Election (ACRE) program all contributed to low enrollment in the new program in 2009. An effective analysis of ACRE should consider farm programs as part of an integrated risk management portfolio, including crop insurance, marketing, and other risk management tools as opposed to a separate lottery program. Improving this integration could be one of the most significant consequences of the 2008 Farm Bill.

Keywords

farm billcommodity programsrisk managementQ18
Type
Invited Paper Sessions
Information
Journal of Agricultural and Applied Economics , Volume 42 , Issue 3 , August 2010 , pp. 537 - 541
Copyright
Copyright © Southern Agricultural Economics Association 2010

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References

Hill, P. “ACRE Prospects Mixed for Wheat: Producers Weight Wheat Options Under New Crop Program.” DTN/The Progressive Farmer. Internet site: www.dtnprogressivefarmer.com (Accessed July 15, 2009).Google Scholar
Pennings, J.M.E.O. Isengildina-Massa, Irwin, S.H., Garcia, P., and Good, D.L. “Producers’ Complex Risk Management Choices.” Agribusiness 24,1(2008):31–54.Google Scholar
USDA Farm Service Agency. “2009 DCP/ACRE Enrollment Summaries (Spreadsheet).” Washington, DC: U.S. Department of Agriculture. Internet site: www.fsa.usda.gov/Internet/FSA_File/dcp_enrol_rpt_prelim_10022009.xls (Accessed October 20, 2009).Google Scholar