Livestock Risk Protection (LRP)
LRP Update: 60-Day Ownership Requirements Suspended Due to Drought
Today the RMA released in their Manager’s Bulletin: MGR-22-004, that at the discretion of the Approved Insurance Providers(AIP), the 60-day ownership requirement for Livestock Risk Protection can be waived. This suspension of the requirement results from severe drought conditions present in many cattle-producing states. The limited feed supply has caused several producers to market their… Continue reading LRP Update: 60-Day Ownership Requirements Suspended Due to Drought
Continue Reading 2023 Crop Year: Changes to Livestock Risk Protection & Livestock Gross Margin
As explained in previous editions of this blog, Livestock Risk Protection (LRP) is designed to insure against declining market prices and Livestock Gross Margin (LGM) protects against the decline in gross margin. No other perils are covered under these policies. The RMA has released significant changes to the LRP and LGM policies for the 2023… Continue reading 2023 Crop Year: Changes to Livestock Risk Protection & Livestock Gross Margin
LRP: Fed Cattle
Livestock Risk Protection-Fed Cattle is one of the two cattle-related commodity types under LRP. Like all the LRP policies, this product is federally reinsured and protects against a potential fall in the cash price. The cash value related to this product is the 5 Area Weekly Weighted Average Direct Slaughter Cattle. When purchasing coverage, you… Continue reading LRP: Fed Cattle
LRP: Feeder Cattle
Livestock Risk Protection-Feeder Cattle is one of the two cattle-related commodity types under LRP. Like all LRP policies, this product is federally reinsured and protects against a potential fall in the cash price. The cash value related to this product is the CME Feeder Cattle Index. When purchasing coverage, you may select from various coverage levels… Continue reading LRP: Feeder Cattle
LRP Navigation
Today, we are going to walk through how to navigate the AgRisk Advisors website and the correct process for submitting your operation’s information to receive Livestock Risk Protection updates and rates. We have created a tool so producers can easily receive updates on daily LRP offers. First, you will need to go to www.lrpadvisors.com, this… Continue reading LRP Navigation
Frequently Asked Questions: Livestock Risk Protection
Question: What happens if I decide not to sell cattle I’ve purchased LRP coverage on? Answer: There is no obligation to sell cattle on which you have purchased LRP Feeder Cattle coverage. You may choose to retain ownership and still be eligible for the indemnity should the Actual End Value fall below your Coverage Price.… Continue reading Frequently Asked Questions: Livestock Risk Protection
How To: Livestock Risk Protection (LRP)
One of the primary benefits of Livestock Risk Protection is its simplicity. Managing your operation’s price risk with LRP can be explained in 3 steps. First, we begin with the application process, next is a review of establishing coverage, and last, we’ll review what occurs if there is a loss. First, we begin with the application.… Continue reading How To: Livestock Risk Protection (LRP)
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