WASHINGTON, DC – More relief may be coming for farmers and ranchers affected by COVID-19 shutdown and loss of marketing opportunities according to Agriculture Secretary Sonny Perdue. The assistance would be coming directly from USDA and could be funded entirely by the Commodity Credit Corporation (CCC) which has $14.5 billion available from funds earlier allocated by the Congress and the CARES Act. While the focus has been on an agreement for another COVID Relief package from the leadership in the House and Senate, the Secretary has the authority to provide relief now without legislation. Most recently this has been exhibited through two Market Facilitation Programs (MFP and MFP-2) and the Coronavirus Food Assistance Program (CFAP). Speaking of the CFAP, it appears now that approximately $6 billion from the first round of assistance will not be paid out, leaving the residual balance available to USDA in crafting the next program.
(SOURCE: National Pork Producers Council and Southwest Council of Agribusiness)