Snowpacks Get A Boost & RMA Releases Prices
Thanks to large snow falls across the state during the month of February what were below and near average snowpacks are now near and above average throughout most of the state, except for the Upper Columbia and Olympic Peninsula areas where prominent decreases were experienced. March 1 statewide SNO-TEL readings were 109%, with the east side being slightly drier overall. To date, we’ve received roughly 70 - 90% of our annual total snowfall. The National Weather Service and Natural Resources Conservation Service climate stations reported varied precipitation totals throughout Washington river basins during the month of February. Streamflow forecasts are varying from 73% to 116% of average.
The USDA has announced 2012 crop year projected prices for combo commodities and volatility factors, along with additional price elections for other select commodities.
SEUFER: For producers who purchase their 2012 MPCI policy the price election is used to determine the value of insurance protection, and that price election is multiplied by the producers actual production history and then the coverage level they choose, and then the producer will know what kind of coverage they have on their insurance policy and these prices help set that boundary.
That’s Risk Management Specialist Jo Lynne Seufer. For specific commodity prices be sure to contact Risk Management’s Spokane Regional Office.
I’m Lacy Gray and that’s Washington Ag Today on the Northwest Ag Information Network.