Livestock Risk Protection Lamb expanded into Washington
Washington Ag Today September 9, 2009 The Risk Management Agency Spokane Regional Office recently announced the expansion of the Livestock Risk Protection Program for Lamb in all counties in Washington. Previously the program was available in Oregon and Idaho. Jo Lynn Seufer with the regional RMA office says some changes in the LRP for lamb were also made. Seufer: “Along with the expansion of availability for Washington state RMA also announced a new pricing procedure that uses the lamb carcass price and converting that to a calculated live price using the USDA Ag Market Service data. We did use AMS data prior to this but it was not the carcass price. It was more of just the live price. The owners of this producer felt it would be better to use a converted price from the carcass.” There was also the addition of a 20-week endorsement and a reduction in the maximum size of the Specific Coverage Endorsement from seven-thousand head to two-thousand head. Seufer: “There is a lot of confusion as to why they did that. It was really just the owner of the product encouraging producers to spread their risk out. Put two-thousand head under one endorsement and maybe another two-thousand head under another endorsement.” Sales of LRP-Lamb with these changes will begin September 14th. I’m Bob Hoff and that’s Washington Ag Today on the Northwest Ag Information Network.
