Livestock Risk Protection – Feeder Cattle
Feeder Cattle (LRP-Feeder Cattle) is designed to insure against declining market prices. You may choose from a variety of coverage levels and insurance periods that match the time your feeder cattle would normally be marketed (ownership may be retained).
You may buy LRP-Feeder Cattle insurance throughout the year from Risk Management Agency (RMA)-approved livestock insurance agents. Premium rates, coverage prices, and actual ending values are posted online daily.
You may choose coverage prices ranging from 70 to 100 percent of the expected ending value. At the end of the insurance period, if the actual ending value is below the coverage price, you will be paid an indemnity for the difference between the coverage price and actual ending value.
Visit RMA’s website to see the LRP-Feeder Cattle program’s coverage prices, rates, actual ending values, and per hundredweight insurance cost (see useful links). Actual ending values are based on weighted average prices, from the Chicago Mercantile Exchange Group Feeder Cattle Index. Actual ending values are posted on RMA’s website at the end of the insurance period.
Availability
You submit a one-time application for LRP-Feeder Cattle coverage. After the application is accepted, you can buy specific coverage endorsements throughout the year for up to 6,000 head of feeder cattle that are expected to weigh up to 900 pounds at the end of the insurance period. The annual limit for LRP-Feeder Cattle is 12,000 head per producer per year (July 1 to June 30). The length of insurance coverage available for each specific coverage endorsement is 13, 17, 21, 26, 30, 34, 39, 43, 47, or 52 weeks.
Coverage is Available For:
Calves, Steers, Heifers, Predominantly Brahman cattle, Predominantly dairy cattle; and Unborn calves.
You may also choose from two weight ranges – under 600 pounds and 600-900 pounds.
New for 2023
- Producers can insure up to 12,000 head per Specific Coverage Endorsement (SCE) with a limit of 25,000 head per crop year.
- Increased weight limits for insurable livestock
- Weight 1 – 100 pounds to 599
- Weight 2 – 600 pounds to 1,000
- Modified the provisions defining Covered Livestock regarding ownership requirements, insurability and documents required for verification to receive an indemnity – required to prove ownership.
Livestock Risk Protection – Fed Cattle
The Livestock Risk Protection Insurance Plan for Fed Cattle (LRP-Fed Cattle) is designed to insure against declining market prices. Beef producers may choose from a variety of coverage levels and insurance periods that correspond with the time your marketweight cattle would normally be sold.
You may buy LRP-Fed Cattle throughout the year from Risk Management Agency (RMA)-approved livestock insurance agents. Premium rates, coverage prices, and actual ending values are posted online daily.
You may choose coverage prices ranging from 70 to 100 percent of the expected ending value. At the end of the insurance period, if the actual ending value is below the coverage price, you may receive an indemnity payment for the difference between the coverage price and actual ending value.
Visit RMA’s website to see the LRP-Fed Cattle program’s coverage prices, rates, actual ending values, and per hundredweight insurance cost (see useful links below). The actual ending values are based on weighted prices from USDA’s Agricultural Marketing Service. Actual ending values are posted on the RMA’s website at the end of the insurance period.
Availability
You submit a one-time application for LRP-Fed Cattle coverage. After the application is accepted, you may buy specific coverage endorsements for up to 6,000 head of heifers & steers (weighing between 1,000 & 1,400 lbs) that will be marketed for slaughter near the end of the insurance period.
The annual limit for LRP-Fed Cattle is 12,000 head per producer for each crop year (July 1 to June 30). The length of insurance coverage available for each specific coverage endorsement is 13, 17, 21, 26, 30, 34, 39, 43, 47, or 52 weeks.
New for 2023
- Producers can insure up to 12,000 head per Specific Coverage Endorsement (SCE) with a limit of 25,000 head per crop year.
- Increased weight limits for insurable livestock 1,000 #s – 1,600 #s.
- Modified the provisions defining Covered Livestock regarding ownership requirements, insurability and documents required for verification to receive an indemnity – required to prove ownership.
Livestock Risk Partners provides risk protection for livestock producers. We offer insurance products that provide margin protection or protect from price decline.
Keeping livestock farms profitable to keep our communities strong is what we do!
