Livestock Risk Protection – Swine
The Livestock Risk Protection Insurance Plan for Swine (LRP-Swine) is designed to insure against declining market prices. Pork producers may choose from a variety of coverage levels and insurance periods that match the time your hogs would normally be marketed.
You may buy LRP-Swine 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 the actual ending value.
Visit RMA’s website to see the LRP-Swine program’s coverage prices, rates, actual ending values, and per hundredweight insurance cost (see useful links below). Actual ending values are calculated from price series data from USDA’s Agricultural Marketing Service. 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-Swine coverage. After the application is accepted, you may buy specific coverage endorsements for up to 40,000 hogs that are expected to reach market weight near the end of the insurance period.
The annual limit for LRP-Swine is 150,000 hogs 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, and 52 weeks.
New for 2023
- Producers can insure up to 70,000 head per Specific Coverage Endorsement (SCE) with a limit of 750,000 head per crop year.
- Modified weight range for insurable livestock to 1.45 to 2.60 lean cwt.
- Modified the endorsement length for unborn swine to a minimum of 30 weeks and a maximum of 30 weeks for all other swine.
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!
