Livestock Risk Protection is a federally-reinsured livestock product that provides single peril risk protection against the decline in prices over the insurance period.

This insurance may be purchased throughout the year. Premium rates, coverage prices, and actual ending values are posted online daily. The RMA monitors capacity levels, and when the funding limit has been reached, sales for this product will cease. LRP does not insure against death, loss or poor performance.

At the end of the insurance period, if the actual ending value is below the coverage price, an indemnity will be paid for the difference.

New for RY2021

  • Increased premium subsidy rates (see rates below)
  • Increased head limits 
  • Modified ownership requirement to 60 days
  • Added endorsement length options for swine
  • Modified the policy and created new feeder cattle and swine types to allow insurability before birth

Fed Cattle

LRP – Fed Cattle provides single peril risk protection against the decline in fed cattle price over the insurance period. Producers may select from a variety of coverage levels and insurance periods to match the time the fed cattle would normally be marketed

Feeder Cattle

LRP-Feeder Cattle provides protection when the national cash price index, as reported by the Chicago Mercantile Exchange (CME), falls below the insured’s price coverage level. Producers may select from a variety of coverage levels and insurance periods to match the time the feeder cattle would normally be marketed.

Swine

LRP-Swine provides protection against the decline in hog prices, as published by the Agricultural Marketing Service (AMS), over the selected insurance period. Producers may select from a variety of coverage levels and insurance periods to match the time the hogs would normally be marketed.

Lamb

LRP-Lamb provides protection against the decline in lamb prices, as published by the Agricultural Marketing Service (AMS), over the selected insurance period. Producers may select from a variety of coverage levels and insurance periods to match the time the lamb would normally be marketed.

Premium rates, coverage prices, and actual ending values are posted online on Monday of each week, instead of on a daily basis.

Premium Subsidy

COVERAGE
PREMIUM SUBSIDY
Fed, Feeder and Swine: Between 70% and 100% of the expected ending valueFed, Feeder and Swine:

35% for 95 – 100% Covg. Level

40% for 90 – 94.99% Covg. Level

45% for 85 – 89.99% Covg. Level

50% for 80 – 84.99% Covg. Level

55% for 70 – 79.99% Covg. Level

 

 

 

Lamb: Between 80% and 95% of the expected ending value

Lamb: Varies by endorsement length

13 Weeks – 20%

26 Weeks – 35%

39 weeks – 38%

 

 

 

The information contained in this publication is for general purposes only and shall not modify the terms of any insurance policy.

September

October 2020

November
MO
TU
WE
TH
FR
SA
SU
28
29
30
1
2
3
4
5
Dairy Products Released
All Day
NASS Dairy Products
All Day
6
7
8
9
10
11
12
Columbus Day
All Day
13
14
15
16
17
18
19
20
Milk Production Released
All Day
NASS Milk Production
All Day
21
22
Cold Storage Released
All Day
NASS Cold Storage
8:00 am - 6:00 pm
23
24
25
26
27
28
29
30
October Sales Dates
All Day
(Friday – Saturday) , ...
31
October Sales Dates
All Day
(Friday – Saturday) , ...
1

2020 October

Week 5

Mon 28
Tue 29
Wed 30
Thu 1
Fri 2
Sat 3
Sun 4
Mon 5
Tue 6
Wed 7
Thu 8
Fri 9
Sat 10
Sun 11
Mon 12
Tue 13
Wed 14
Thu 15
Fri 16
Sat 17
Sun 18
Mon 19
Tue 20
Wed 21
Thu 22
Fri 23
Sat 24
Sun 25
Mon 26
Tue 27
Wed 28
Thu 29
Fri 30
Sat 31
Sun 1