Business / Agriculture Glossary

Federal Agriculture Improvement And Reform Act Of 1996 (FAIR): P.L. 104-127 (April 4, 1996) was the omnibus 1996 farm bill that removed the link between income support payments and farm prices. It authorized 7-year production flexibility contract paymen . . . View Full Definition

Federal Crop Insurance Corporation (FCIC): The wholly owned federal corporation within USDA that administers the federal crop insurance program. The FAIR Act of 1996 created an Office Of Risk Management (which USDA has renamed the Ri . . . View Full Definition

Federal Crop Insurance Reform Act Of 1994: This Act is Title I of P.L. 103-354 (October 4, 1994). Beginning with the 1995 crops, it modifies the federal crop insurance program by authorizing a new catastrophic (CAT) coverage level av . . . View Full Definition

Federal Farm Credit Banks Funding Corporation (FFCBFC): An entity within the Farm Credit System (FCS) that manages and coordinates the sale of system-wide bonds and notes in the national financial markets. Since the FCS, by law, is not permitted . . . View Full Definition

Federal Food Drug And Cosmetic Act (FFDCA) Of 1938: P.L. 75-717 (June 25, 1938) is the basic authority intended to ensure that foods are pure and wholesome, safe to eat, and produced under sanitary conditions: that drugs and devices are safe . . . View Full Definition

Federal Grain Inspection Program: The grain inspection program administered by the Grain Inspection, Packers and Stockyards Administration. The program establishes official U.S. standards for grain and certain other commodit . . . View Full Definition

Federal Insecticide: P.L. 80-44 (June 25, 1947), as amended, is the basic authority that requires the Environmental Protection Agency to regulate the sales and uses of pesticides. The federal government began re . . . View Full Definition

Federal Land Bank Associations (Flbas): Institutions within the Farm Credit System that take applications for and service long-term real estate loans for the Farm Credit Banks, but do not have direct lending authority.

Federal Land Credit Associations: Institutions within the Farm Credit System (FCS) that have authority to make long-term real estate loans to eligible retail customers. Flcas receive their funds directly from the Farm Credit Banks.

Federal Land Policy And Management Act Of 1976 (FLPMA): P.L. 94-579 (October 21, 1976) 1) set out for the Bureau of Land Management standards for managing public land, including land-use planning, sales, withdrawals, acquisitions, and exchanges: . . . View Full Definition

Federal Meat Inspection Act Of 1906: Enacted June 30, 1906, as chapter 3913, 34 Stat. 674, and substantially amended by the Wholesome Meat Act 1967 (P.L. 90-201), requires USDA to inspect all cattle, sheep, swine, goats, and ho . . . View Full Definition

Federal Noxious Weed Act: P.L. 93-629 (January 3, 1975) was adopted to prevent foreign weeds from entering and becoming established to the detriment of U.S. crops and livestock. Under this act, the Animal and Plant H . . . View Full Definition

Federal Plant Pest Act: P.L. 85-36 (May 23, 1957) prohibits the movement of plant pests from a foreign country into or through the United States unless authorized by USDA. The law gives USDA’s Animal and Plant Heal . . . View Full Definition

Federal Register (FR): Each federal working day, this federal document publishes current Presidential orders or directives, agency regulations, proposed agency rules, notices and other documents that are required . . . View Full Definition

Federal Seed Act: P.L. 76-354 (August 9, 1939) requires accurate labeling and purity standards for seeds in commerce, and prohibits the importation and movement of adulterated or misbranded seeds. The law wor . . . View Full Definition

Federal-State Marketing Improvement Program: Sometimes referred to in budget documents as Payments to States and Territories, the program provides matching funds to states for research and innovative projects aimed at identifying new m . . . View Full Definition

Feed Grain: Any of several grains most commonly used for livestock feed, including corn, grain sorghum, oats, rye, and barley. These grains and the farms producing them historically have received federa . . . View Full Definition

Feed Ratio: The relationship of the cost of feeding animals to their market weight, expressed as a ratio to the sale price of animals, such as the hog/corn ratio. This serves as an indicator of the prof . . . View Full Definition

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