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.

 

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

New for 2023

  • Producers can insure up to 12,000 head per 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.

 

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.

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 pounds
    ̵   Weight 2- 600 pounds to 1,000 pounds
  • Modified the provisions defining Covered Livestock regarding ownership requirements, insurability and documents required for verification to receive an indemnity.

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.

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.

Quote Coverage

The Hudson Crop LRP Quoter provides 24-hour access and up-to-the-minute quotes for the RMA Livestock Risk Protection Insurance Program for Fed Cattle, Feeder Cattle and Swine. Our quoting software provides our agents and farmers a more efficient way to choose the best coverage to protect their investment should the national price drop before the animal goes to market. Additionally, our quoting system will provide an overview of the upside potential in the marketplace.  Quote LRP now  >

Premium Subsidy

35% 40% 45% 50% 55%
95-100%
COVERAGE
90-94.99%
COVERAGE
85-89.99%
COVERAGE
80-84.99%
COVERAGE
70-79.99%
COVERAGE

 

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

June 2022

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