PRODUCT BY PRODUCT
FED CATTLE
LRP Coverage for steers and
heifers (1,000-1,600 lbs) marketed near the insurance period end
Purchase coverage throughout the year for up to 12,000 head per endorsement
Settled based on the 5 area cash average for 80-95% choice steers
Annual limit for LRP Fed Cattle: 25,000 head per year ending June 30th.
LRP Coverage for unborn calves, steers & heifers up to 1,000 pounds
Buy coverage throughout the year for up to 12,000 head after application process
Settled against the CME feeder cattle index (700-900# steers in 12 state reporting area)
Annual limit for LRP Feeder Cattle: 25,000 head per year until June 30th.
FEEDER CATTLE
LRP Coverage for born or unborn hogs reaching market weight by insurance period end
Purchase coverage throughout the year for up to 70,000 head per endorsement
Settled against weighted average of negotiated and forumla sold hogs
Annual limit for LRP Swine: 750,000 hogs per year until June 30th.Â
SWINE
Livestock Risk Protection (LRP) insurance is a risk management tool designed for livestock producers. LRP helps protect farmers and ranchers against the financial risk associated with their livestock investments. It is a federally subsidized program that allows producers to protect themselves from declining prices in the market, while allowing them to participate in a higher market.
ABOUT LRP
PROCESS
HOW IT WORKS
Complete an application
LRP Quotes
Quotes come out each afternoon, we send them out each afternoon attached to our market commentary.
Coverage is booked
Once the quotes come out, coverage can be booked until 7:45 AM the next morning. Due to time sensitivity, we use electronic signatures for booking.
Endorsements are tracked
We track each of your endorsements and send monthly reports
Settlement nears
As settlement approaches, our office is in communication with the likelihood of receiving a claim and what the next appropriate steps are.
Insuring Fed Cattle, Feeder Cattle, Unborn Calves and Swine
Establish a coverage price without giving up a potential market movement higher
Not subject to margin calls & premiums are due at the end of the coverage period
No contract minimums, able to bind coverage on any number of animals up to the contract maximums
Different coverage rates are available from 13 weeks minimum to 52 weeks maximum
Settlement
If you are due an indemnity, you are required to submit supporting documents of livestock ownership along with signing a notice of loss to receive your money. We guide you through each step and with the use of electronic payments to expedite payments.
Want to Learn More about LRP Insurance?
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