USDA's Risk Management Agency (RMA) will be adding premium subsidies and moving premium due dates in 2021 for its Livestock Gross Margin insurance program for cattle and swine, the agency announced Monday.
“These changes build upon RMA’s continued effort to make livestock policies more affordable and accessible for livestock producers,” RMA Administrator Martin Barbre said in a release. “We are working to ensure that these improvements can be implemented by the July 21 sales period so producers can take advantage of these changes as soon as possible.”
The cattle subsidy will range from 1% with no deductible to 50% with a deductible of $70, while the swine subsidy will range from 1% with no deductible to 50% with a deductible of $12 or greater. In past years, the program did not have premium subsidies for cattle and swine.
Premium due dates for cattle are moving to the end of the endorsement period, the release said.
Producers looking to learn more about these changes or join the Livestock Gross Margin insurance program should contact get in touch with their local private insurance agents.
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