If you’re involved in U.S. agriculture, you’ll be hearing a lot about ARC and PLC in the next few months.
Under a provision of the new farm bill, farmers must choose between agricultural risk coverage (ARC) and price loss coverage (PLC). It’s a one-time choice, with no going back.
As of now, I don’t understand either option. Nobody does; details of the two are still being worked out.
Eventually, of course, we’ll figure out ARC and PLC, just as we figured out previous farm programs such as SURE and ACRE. The never-ending stream of ag acronyms can be wearying, though.
Is there an ag acronym that particularly stands out in your memory? If so, drop me a line. And drop me a line if you have any insight into ARC and PLC.