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.

December

January 2021

February
MO
TU
WE
TH
FR
SA
SU
28
29
30
31
1
New Year’s Day
All Day
2
3
4
5
6
NASS Dairy Products
All Day
Dairy Products Released
All Day
7
8
9
10
11
12
13
14
15
16
17
18
Birthday of Martin Luther King, Jr.
All Day
19
20
21
22
23
24
25
Cold Storage Released
All Day
NASS Cold Storage
All Day
NASS Milk Production
All Day
Milk Production Released
All Day
26
27
28
29
January Sales Dates
All Day
30
January Sales Dates
All Day
31
1
2
3
4
5
6
7

2021 January

Week 4

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