Farm aide bill

[Elcid_Fowler]

DT what's the period of that average and what was the trailing 5 year actual delinquencies?

[Duck Tape]

DT what's the period of that average and what was the trailing 5 year actual delinquencies?

Don't know.

Florence farmers are having a tough time. Loan delinquencies have risen from 15% to 50%.

Requests for new loans are also spiking. That means farmers are tapped out of cash and borrowing to plant this years crop.

[SaltMuck]

BTW someone asked earlier, Florence County delinquent farm payments are at 50% this year compared to a 15% average delinquency.

That is very accurate. Bishopville is at 51% past due. I will not pool 5 years of data, but Fiscal Year 2015 (ended Sept 2015) delinquency was 8.33%.

Relief from the US Dept of Ag comes in the form of low-interest Operating or Emergency Loans; both have loan amount limitations. SC USDA is completely out of Operating Loan funds as of earlier this week. There is no way of knowing when those approved loans may actually be funded.

[Elcid_Fowler]

Aren't statistics great. They are so true but tell so many stories and paint many pictures. I'd be interested in knowing year over year trends vs. a generic average that doesn't tell me anything without knowing the population of that average. Past due at fiscal year end is different than past due during the year. An account 1 day past due falls into those stats but doesn't mean it will be 180 days past due or more at year-end or even past due at all. When does default start? No doubt it take balls of steel to farm these days. I admire those honest hard working farmers for taking the risks.

[Silentweapon338]

I'm just glad the GA had enough sense to bitch slap Hayley an her veto.
Whap pow!

[2thDoc]

Does this mean you are in favor of a federal program to help individuals in a declared disaster?

No. Nor am I in favor of hiding behind them.

I get it, DT. I really do. However, you sleep better thinking that FEMA helped these people. It turns out, many didnt get the help you think they did. I get THAT, too. The system doesnt always work the way it is set up.

My beef is with the system. Its too damn big and it doesnt do what it says it will.

As for the farmers, I get that too. The only part of this that matters is that I have compassion for the person that is in need. I DONT think its the governments place to "bail out" farmers OR the auto industry. My compassion only goes so far. You take a risk being a farmer and maybe, just maybe, many of them didnt save for a rainy day.

[Duck Tape]

Many residences are faced with the reality that normal house insurance does not cover floods. Many of the residents were suffered uninsured losses. The coastal properties understand the difference.

The flooding in Columbia occurred in areas not in a flood plain and sometimes due to dam failures.

[lowbudget]

I think you are the most interesting man on SCDucks but disagree with you on this. Farm land is farm land because no one lives in those areas. Yes, maybe in hundreds of years, long after we are gone it could be developed but probably not. No developer would buy that property and try to make money. No matter how cheap it would be, no one could afford it because many people in those areas dont work. Yes, big cities grow and they grow outward but we only have 4 major city type areas in SC. Greenville/Spartanburg, Cola/Lex, Chuck town and York. And the large mass of area between those cities will not be over developed anytime soon.

And yes, I completely understand all the growth in our state with manufacturing and what it's done recently with some tracts of land around the larger cities.

Incorrect, I live on the FAR western edge of Horry County, 45 min from the beach, and 45-60 minutes from the large manufacturing area of Florence (if you could call it that). I can take you to 2 tracts of land within 2-3 miles as the crow flies from my family farm, that are being sold as .5-1.25 acre lots or "estates". Not for sale, not on the market, but are being SOLD at $7,000/acre on a monthly basis.

I just bought 7 acres that adjoin the family farm, and intend to increase the farm at every opportunity, but it makes it mighty damn hard at those prices.

Also for the record, I do not farm, but my family does. They haven't bitched, moaned, or complained. Tightened their belt loops a few notches, and moved on.

[2thDoc]

Many residences are faced with the reality that normal house insurance does not cover floods. Many of the residents were suffered uninsured losses. The coastal properties understand the difference.

The flooding in Columbia occurred in areas not in a flood plain and sometimes due to dam failures.

That is a might fine, unemotional, simplistic answer. I love the part about the coastal people knowing the difference even though it doesnt have any bearing here.

Can you be as terse on your explanation of the Farm Bill you voted for? I bet its more emotional....

And while we're at it, explain to me how people "not in a flood zone" are having to pay their own money to raise houses because the city says there are, indeed, in a flood zone?

And while we're being snippish, tell me what you know about flood insurance as it pertains to mortgages. Is is the bank or the buyer that is responsible for this? And what buyer who is "not in a flood plain" would purchase flood insurance?

And if the flood is an "act of God", why in God's name are we bailing out farmers and not homeowners? Which one of those people is living the american dream? Obama said it was the home owners.

Again, I have compassion for every person who suffered a loss due to the incredible rains and dam failures. I see it EVERY DAY.

[2thDoc]

Also for the record, I do not farm, but my family does. They haven't bitched, moaned, or complained. Tightened their belt loops a few notches, and moved on.

well said. welcome to the site. try not to say too much that makes sense or people will jump your shit.

[duckman88]

The only question I have about ALL of this is: How is $40 million dollars going to solve the problem? I think that although we can all agree that the flooding last year was a rare event, it has certainly exposed a serious issue with farmers being over extended with regard to their debt/equity ratios. Based on a farmer's income stream, one year of no profits should not put them under, that is not a successful business model in anyone's books. I am not blaming the farmers, it appears they are now in a vicious system which requires this over exposure. But, DT, answer the original question above for me: How is $40 million going to solve the problem?

[holdin down the fort]

Can Someone explain how this 40 million will be allocated? equal distribution among farmers? Do big farms get more?

[MDman]

Farmer has to have at least 40% crop loss to qualify.

Maximum amount payable is 20% of that loss not to exceed $100,000

[ecu1984]

well said. welcome to the site. try not to say too much that makes sense or people will jump your shit.

Tooth made me chuckle

[ecu1984]

Farmer has to have at least 40% crop loss to qualify.

Maximum amount payable is 20% of that loss not to exceed $100,000

and it only pays on production cost.

[MDman]

Also to add, a farmers crop insurance proceeds will be used to determine the total amount awarded so that someone doesnt collect more than 100% of the loss. .

So, just because someone qualifies to receive a maximum payout of $100,000 doesn't mean they are going to get it if his/her insurance proceeds combined with the grant , exceeds that loss amount .

[Duck Tape]

A flood does not cause a farmer to lose his "profits."

He loses the lease, land prep, herbicides, pesticides, lime, fertilizer, crop and all labor involved.

[CofC Waterfowler]

When our law office flooded we lost profits, computers, servers, sheet rock, carpet and still had to pay our employees. How can we collect government assistance like the poor farmers?

[duckman88]

A flood does not cause a farmer to lose his "profits."

He loses the lease, land prep, herbicides, pesticides, lime, fertilizer, crop and all labor involved.

DT we can play with semantics all day long. Those things you listed above are costs which are costs regardless of the success of the crop which are all factored into the farmers profit margin. Can you answer my original question: How is $40 million going to solve the problem?

[SaltMuck]

Can you answer my original question: How is $40 million going to solve the problem?

Its not a cure, its relief. Reread it. Think about it like a Depends underwear. It won't cure the problem, but it sure gives some decent relief to a bad situation.