Wool Loan Deficiency PaymentI
Due to the reduction of potential wool buyers and cost of conducting the Wool Pool, KSWPA is encouraging wool producers to participate in the FSA Wool Deficiency Payment Program.
Wool harvested January 1- December 31 is eligible for LDP payments.
Here is a video about the program:
Wool and Mohair Rates are posted every week on Tuesday late afternoon.
This data is provided by EPAS. The data displays the repayment rate and loan deficiency payment rate for wool and mohair (as applicable). The effective repayment rate is the lower of either the 30-day average or weekly rate.
Items that are required for producer to file in order to receive LDP:
CCC-633 EZ must be filed before producer looses beneficial interest in the commodity (wool).
Certify weight of wool on CCC-633 EZ (If producer has not sheared for a couple of years and there is a lot of wool on the animal, they need to explain that to the county office).
The wool that is being used for LDP must be sheared during the applicable crop year. So for a 2023 LDP, they must shear January 1st – December 31st, 2023 and they have until January 31st, 2024 to file an LDP or MAL.
AD-1026, CCC-941 and CCC-902 (Producer Eligibility forms that producer will get at county office) this must be done when the CCC-633 EZ is filed.