ASA Pleased CFAP Offers Help to Soy—and to Livestock Producers

USDA has released the details of its Coronavirus Food Assistance Program (CFAP), the $16 billion COVID-19 relief package for agriculture and, upon reviewing those details, the American Soybean Association (ASA) is pleased that soybeans are included, as well as livestock, a top customer for soy.

ASA President Bill Gordon, soy grower from Worthington, MN, said, “We are very pleased that livestock producers are getting much-needed relief. Soybean farmers stand with our livestock producers, so this is both needed help for us and welcomed news for our friends in livestock.”

Payments will be available for eligible producers who have suffered a 5% or greater price decline from mid-January to mid-April 2020 because of the COVID-19 pandemic, and who are facing increased marketing costs for inventories. That assistance includes livestock producers who have an ownership interest in eligible livestock that have suffered a 5% or greater price decline as a result of the COVID-19 pandemic and face additional significant costs in marketing their inventories due to unexpected surplus and disrupted markets.

Producers of soybeans and other eligible commodities will be able to apply for assistance beginning May 26 through their local Farm Service Agency (FSA) Service Center.