The first episode of Crownsmen Ag speaks to the 2020 – 2022 changes to the AgriStability Program, including changes to treatment of private insurance proceeds and removal of the Reference Margin Limiting (RML). Joining as the guest is Steve Funk, Director of Ag Management Resources at MNP. On the private insurance front, he discusses how the proceeds from Livestock Price Insurance, private hail, GARS and Just Solutions will no longer offset AgriStability payments, allowing producers to potentially double up on coverage. He also touches on the incentives this creates for producers as well as for providers of private insurance. With regard to removal of RML, Steve and host Jerrod Downey discuss at length the potential outcomes of that change in terms of better program responsiveness and simplicity, and help producers determine if their farms might benefit from the changes.
During the interview several powerful visuals are used to explain the before and after effects of RML removal, to make the very important distinction between margin drops and revenue drops required to trigger AgriStability payments, and to demonstrate some modelling that can be done at the farm level to show how AgriStability covers various loss scenarios. Producers will be surprised in a lot of cases at how low some of the revenue drop trigger points are, how easy it might be to trigger a margin drop of greater than 30%, and how effective AgriStability can be at covering losses.
Finally, Steve covers the very important topic of how to sign up for the 2021 AgriStability Program prior to the extended June 30, 2021 deadline, while providing an important perspective on the costs of program participation.
Crownsmen Ag – The Voice of Agriculture Web Series & Podcast
History beyond documentation and a future that will shape our world. Crownsmen Ag unpacks the incredible world of Agriculture with their live streaming web series and podcast. From livestock production to crop monitory technology to agricultural economics and engineering we bring together leaders and innovators to help you understand the fascinating world of all things agriculture. Join us to learn about tractors, drones, AI, and most importantly the people that are keeping the world fed!