Livestock Risk Protection (LRP)

Livestock Risk Protection is a federally-subsidized livestock product, available throughout the year, that provides protection against the decline in market prices.  It does not insure against death, loss or poor performance.

Four livestock varieties can be covered by this plan:

Fed Cattle (1000-1400 lbs)

Producers may select from a variety of coverage levels and insurance periods to match the time the fed cattle would normally be marketed

  • Producers can insure up to 3,000 head per specific coverage endorsement (SCE), with a limit of 6,000 head per crop year (July 1 - June 30).

  • Coverage level is from 70-100%.  Subsidy is a range from 20% to 35% based on the coverage level selected.

  • Length of insurance coverage available: 13, 17, 21, 26, 30, 34, 39, 43, 47 or 52 weeks.

  • Expected to grade Select or higher with yield grade 1-3, and to marked slaughter at 10-14 cwt.

  • Sales Period begins daily at approximately 4:30 PM (when the RMA posts the coverage price and rates) and ends at 9 AM CST the following calendar day. 

  • Premium rates, coverage prices, and actual ending values are posted online daily by the RMA

Feeder Cattle (900 lbs or less)

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.

  • Producers can insure up to 3,000 head per SCE with a limit of 6,000 head per crop year

  • Coverage level is from 70-100%.  Subsidy is a range from 20% to 35% based on the coverage level selected

  • Price Adjustment Factors:  Steers under 600 lb, 110%; Heifers 600-900 lbs, 90%;  Dairy of both weight classes, 50%; Braham, Steers and Heifers 600-900 lbs, 90%

  • Length of insurance coverage available: 13, 17, 21, 26, 30, 34, 39, 43, 47 or 52 weeks

  • Sales Period begins daily at approximately 4:30 PM (when the RMA posts the coverage price and rates) and ends at 9 AM CST the following calendar day. 

  • Premium rates, coverage prices, and actual ending values are posted online daily by the RMA

Swine (Lean Hogs)

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.

 

  • Producers can insure up to 20,000 head per SCE with a limit of 75,000 head per crop year

 

  • Coverage level is from 70-100%.  Subsidy is a range from 20% to 35% based on the coverage level selected

  • Length of insurance coverage available: 13, 17, 21, or 26 weeks

  • Expected to be marketed for slaughter. Weight calculated on a lean weight basis using a conversion factor of 74%.  Target lean weight should be 150-225 lbs. (203-304 lbs live)

  • Sales Period begins daily at approximately 4:30 PM (when the RMA posts the coverage price and rates) and ends at 9 AM CST the following calendar day. 

  • Premium rates, coverage prices, and actual ending values are posted online daily by the RMA

Lamb (Live)

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.

  • Producers can insure up to 2,000 head per SCE with a limit of 28,000 head per crop year.

  • Coverage level is from 80-95%.  Subsidy is a range from 20% to 38% based on the coverage level selected.

  • Length of insurance coverage available: 13, 26, or 39 weeks

  • Expected to weigh between 50 and 150 lbs by the ending period

  • Sales Period begins each Monday at approximately 10 AM (when RMA posts the coverage price and rates) and ends at 7 PM CST the same day

For all four livestock options, at the end of the selected insurance period, if the actual ending value is below the coverage price, an indemnity will be paid for the difference.

620-298-5291                                                                 800-536-5291                                       office@fitzinsks.coxmail.com

FitzSimmons Insurance Agency is an Equal Opportunity Provider