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Thursday, July 31, 2008

Iowa Independent: USDA nixes CRP 'early-out' proposal

Excerpted from this post at Iowa Independent

The U.S. Department of Agriculture has backed away from a proposal to release more conservation lands for crop production. U.S. Secretary of Agriculture Ed Schafer announced Tuesday that the USDA will not move forward with a plan to allow landowners a penalty free "early-out" of Conservation Reserve Program contracts. Schafer said that the proposal was deemed unnecessary after reviewing the current condition of crops and feedstocks around the country. In a press conference held Tuesday, Schafer said grain prices have dropped in recent weeks, easing pressure on livestock feed markets and lessening the need for any further steps to be taken at this time.

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