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New Debt Flan
Some Virginia farmers could ease their heavy debt loads under changes announced last month in a debt adjustment program of the Farmers Home Administration.
The U.S. Department of Agriculture reduced by 10 percent the cash flow requirement for a loan to be guaranteed by FmHA. The program allows commercial lenders to ask FmHA for a guarantee on payment of a farmer’s note.
The original plan required farmers’ operating plans to show a 10 percent margin above total income needs for a family’s living expenses and farm production costs. The extra 10 percent was for emergency expenses, such as major equipment breakdowns, unexpected insect disease problems or family emergencies.
Some farmers who needed the program could not qualify because they did not have the extra 10 percent. The change will help some Virginia farmers reduce debt payments and improve their cash flow position.
Keep Feeding Cows
It is extremely tempting to let beef cows go to pasture as soon as the grass begins to green up. This is the time in the production cycle for most beef cows when they continue to need a high level of nutrition because most of them are nursing calves and are into the breeding season or will be going into the breeding season soon. Suckling cows need to maintain their weight or actually gain some weight at this time. Putting cows on immature grass too early will cut the energy level to the point that the cows will lose weight, perhaps stop cycling and disrupt planned conception in the breeding season. Therefore, even though cows prefer those first few blades of green grass, it is advised that you continue to feed them on hay or silage or a combi
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