Livestock Risk Protection (LRP) is designed to insure against declining market prices. Producers may select from a variety of coverage levels and periods of insurance that correspond with the time their market weight livestock would be sold. Producers can choose contract length (varying from 13 to 52 weeks), weight, coverage level, and number of livestock they want to insure. LRP is available for cattle, lamb, and swine and can be purchased throughout the year. LRP’s ending values, coverage prices, rates and premiums may be viewed on the RMA website at https://public.rma.usda.rov/livestockreports/main.aspx
NEW for 2021:
1. Increase premium subsidy to 35-55% (depending on coverage level selected)
2. Increase head limits to:
– Feeder Cattle – 6,000 head per endorsement/12,000 head annually
– Fed Cattle – 6,000 head per endorsement/12,000 head annually
– Swine – 40,000 head per endorsement/150,000 head annually
3. Modify the livestock ownership requirement to 60 days
4. Add endorsement length options up to 52 weeks for swine
5. Add new feeder cattle and swine types to allow for livestock to be insured before birth
FCSM Webinar on Wednesday, March 10 at 1:00 p.m. (central time) will cover these Valuable Changes to Livestock Risk Protection Coverage:
Increased Subsidies 35-55%
Coverage for Unborn Livestock
Premium Payment Deferred
Flexible Ownership Window
Premium & Coverage Examples
Question and Answer Session
Ranchers take 30 minutes to learn about how LRP can protect your investments against declining market prices.
Join Farm Credit Services of Mandan from your home, office, or calving barn by laptop, phone or tablet on TEAMS.
For webinar TEAMS link or LRP brochure, Call FCSM Insurance at (701) 751-8133 or email MPCI@farmcreditmandan.com.