The USDA’s Risk Management Agency (RMA) announced it is increasing premium subsidies and will make other improvements to the Livestock Risk Protection (LRP) plan of insurance for feeder cattle, fed cattle, and swine starting with the 2021 crop year.
The increased premium subsidy is based on the coverage selected by the livestock producer. Other changes to the program include increasing livestock head limits for feeder and fed cattle to 6,000 head per endorsement/12,000 head annually, modifying the requirement to own insured livestock until the last 60 days of the endorsement, and creating new feeder cattle types to allow for unborn livestock to be insured.
“We encourage livestock producers to contact their insurance agent to take advantage of these improvements,” said RMA Administrator Martin Barbre. “These changes will not only make LRP more affordable for producers but also will provide them with better coverage.”
For more information on the changes, you can visit the RMA website at rma.usda.gov.
