8-29 IAN Gross Margin-Dairy

USDA’s Risk Management Agency (RMA) announced the availability of sales for Livestock Gross Margin-Dairy (LGM-Dairy) for the August 31, sales period.

RMA plans to make available limited remaining underwriting capacity for Livestock Gross Margin for Dairy Cattle (LGM-Dairy) to allow sales for the August 31, sales period. LGM-Dairy used approximately $13.1 million in total underwriting capacity in the October and November 2011 sales periods. At the end of the November sales period, RMA determined that Livestock Gross Margin-Dairy sales should stop to facilitate sales of the other seven insurance plans that insure livestock. Here is RMA’s Jo Lynne Seufer:  “We have not had sales for livestock gross margin dairy since last November because our capacitor manager money was exhausted at that time and now we are getting to the end of the fiscal year where we  have funds remaining and we encourage dairy producers to contact their livestock insurance agents as soon as possible.”

Dairy producers are encouraged to visit their livestock insurance agent to learn details of the LGM-Dairy policy. Federal livestock insurance program policies are sold and delivered solely through private livestock insurance companies and agents. A list of livestock insurance agents is available at all USDA Service Centers in the United States or on the RMA Web site at http://www3.rma.usda.gov/tools/agents/.