Livestock Insurance

Livestock Programs Available in the Pacific Northwest. Here's Jo Lynne Seufer, Risk Management Specialist?USDA/Risk Management Agency. "The USDA Risk Management Agency's (RMA) Spokane Regional Office reminds Pacific Northwest livestock producers of upcoming important dates for livestock risk management programs available in all counties in Idaho, Oregon and Washington. The Livestock Risk Protection (LRP) program for fed cattle, feeder cattle and swine and the Livestock Gross Margin (LGM) program for swine begin sales for the 2015 crop year on July 1, 2014. Sales will continue through June 30, 2015, 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 and swine 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 insurance agents is available at all USDA service centers throughout the United States or on the RMA website at: www3.rma.usda.gov/tools/agents."