– Elliott Dennis, Assistant Professor & Livestock Extension Economist, Department of Agricultural Economics, University of Nebraska – Lincoln
〈EDITOR’s NOTE: Beyond what you find in this article, learn more about Livestock Risk Protection (LRP) and Livestock Gross Margin (LGM) insurance this evening during the OSU Extension Beef Team’s Ohio Cattle Feeding School webinar beginning at 6 p.m. It’s offered free, but registration is required. Find more information linked here, or just click here to register.〉
The changes to the U.S. Department of Agriculture’s (USDA) Risk Management Agency (RMA) Livestock Risk Protection (LRP) insurance plan took effect on January 20, 2021, for the crop year 2021 and succeeding crop years. These changes included: (a) increasing livestock head limits for feeder and fed cattle to 6,000 head per endorsement/12,000 head annually and swine to 40,000 head per endorsement/150,000 head annually; (b) modifying the requirement to own insured livestock until the last 60 days of the endorsement; (c) increasing the endorsement lengths for swine up to 52 weeks; and, (d) creating new feeder cattle and swine types to allow for unborn livestock to be insured. These changes, in addition to the dramatic changes in subsidy levels and allowing premiums to be paid at the end of the coverage endorsement period, should significantly improve the use of LRP. How much so likely depends on several factors including Continue reading National Use of Livestock Insurance Products Offered by USDA-RMA