06/23/08 Livestock insurance

One year ago the regional Risk Management Agency office started offering the Livestock Risk Protection program or LRP. The program is available in all Idaho, Oregon and Washington counties and includes insurance plans for fed cattle, feeder cattle, lamb and swine. RMA's Jo Lynne Seufer. SEUFER "Participation for the 2008 crop year is covering about 117-thousand head of livestock with a total liability coverage of over 17-million dollars." Seufer says sheep producers are probably participating because they don't have a futures market that will offer them price protection which is what LRP does. It protects the policy holder against downward price risk during the insurance period but LRP doesn't cover other types of losses such as mortality. The producer picks the coverage period corresponding to the expected sell or slaughter date. RMA offers LRP again for the 2009 crop year beginning on July first and sales continue through June 30, 2009. You can get a list of livestock crop insurance agents at any USDA service centers or through the Risk Management Agency website. Voice of Idaho Agriculture Bill Scott