SPOKANE, WASH., July 1, 2013 - USDA’s Risk Management Agency (RMA) issued a reminder today to livestock producers in three states of risk management programs that could be helpful to their operations.
RMA’s Spokane Regional Office said livestock producers in all counties of Idaho, Oregon, and Washington are eligible for the Livestock Risk Protection (LRP) program. The LRP program for fed cattle, feeder cattle, lamb and swine and the Livestock Gross Margin (LGM) program for swine begins sales for the 2014 crop year July 1, 2013 and continues through June 30, 2014; or until the maximum underwriting capacity is reached.
LRP coverage protects the policyholder from downward price risk during the insurance period. LGM provides protection against the loss of gross margin (market value of livestock minus feed costs). LRP and LGM do not cover any other peril (e.g., mortality, condemnation, physical damage, disease, individual marketing decisions, local price deviations or any other cause of loss).
Cattle, swine and lamb producers are encouraged to contact a local livestock insurance agent to learn additional details. Federal crop insurance program policies are sold and delivered solely through private crop and livestock insurance companies. A list of livestock crop insurance agents is available at all USDA Service Centers throughout the U.S. or at the RMA web site.
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