Cattle producers now have improved insurance to protect against unexpected price declines.
Angus Beef Bulletin Extra
USDA recently announced significant improvements to the Livestock Risk Protection Insurance Plan (LRP), a program that allows cattle producers to insure against unexpected price declines. LRP allows producers to insure between 70% and 100% of the projected price of their cattle. The projected price is based upon feeder-cattle futures prices and varies depending upon the type of cattle (e.g., steers or heifers) and the weight of the cattle