The Federal Crop Insurance Corporation Board of Directors approved revisions to the Livestock Risk Protection (LRP), Livestock Gross Margin (LGM) and Dairy Revenue Protection (DRP) insurance plans, which are applicable beginning in 2026.
Under LRP, revisions include changing the termination date to Sept. 30 and the premium billing date to the first day of the second month after the end date. In addition, two new types were added: feeder cattle, unborn calves and fed cattle, cull cows. Coverage will also be allowed based on a forward contract or purchase agreement, and a drought exemption was added for feeder cattle. Additional record requirements were also added for feeder cattle, including when livestock are purchased and not marketed within 60 days of the end date, and the sex of the feeder cattle must be verified.
LGM changes include updating the termination date to Aug. 31 and the premium billing date to the first day of the second month after the specific coverage endorsement end date, and language updates.
DRP updates include changing the termination date to Jan. 31 and the premium billing date to the first day of the third month after the end date, and language updates.
