11/21/07 New sheep industry insurance program

It took three years to develop but the sheep industry in Idaho and 26 other states has a new Livestock Risk Protection insurance program through the Risk Management Agency. American Sheep Industry secretary-treasurer Margaret Soulen Hinson of Weiser says the LRP was approved after they developed a new concept for price predictions. That insurance coverage was offered to the sheep and lamb industry in September. SOULEN HINSON "There's 114 policies have been sold to date and that's insuring over 240 thousand head of lambs. So it's selling very well." It's a pilot project in 27 states but Soulen Hinson is hopeful it will be expanded to all the states. SOULEN HINSON "We'll see how this first year goes. I think the huge thing is that it really will help kind of stabilize and protect the sheep industry from some of the huge downswings that we have seen in the industry. And the lamb market is holding strong which is a plus." Soulen Hinson says the outlook for the American sheep industry is good, the market is strong and stable. And her advice; eat lamb and wear wool. She's seen resurgence in the past couple of years in the American population eating lamb and using wool in outdoor recreational clothing. Voice of Idaho Agriculture Bill Scott