Livestock Program Available in the Pacific Northwest

As of the first of July, livestock risk management programs available in all counties in Idaho, Oregon and Washington.

Risk Management Agency’s Jo Lynne Seufer shares more details.

Seufer: “The Risk Management Agency is really excited that the 2014 crop year for our Livestock Risk Protection program and our Livestock Gross Margin program begins July 1 and goes through next June 30, 2014. So producers who have fed cattle, feeder cattle, lamb, swine or dairy can participate in our programs to help them manage their price risk.”

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).

Unlike some risk management insurance programs, there isn’t a certain deadline to purchase as Seufer explains

Seufer: “For the Livestock Risk Protection for fed cattle, feeder cattle and swine they can pretty much sign up every day that the Chicago Mercantile Exchange lists a future price. For lamb it is every Monday. For the Livestock Gross Margin dairy they are the same as the feeder cattle and fed cattle, so every day there is a milk price on the Chicago Mercantile Exchange.
 
Cattle, swine and lamb producers are encouraged to contact a local livestock insurance agent to learn additional details.