The Federal Crop Insurance Corporation Board of Directors recently approved a number of program changes to the LRP-Lamb plan of insurance including:

  1. A new price prediction model;
  2. A revised definition of “Insured Lambs”;
  3. Removal of the 20-week endorsement;
  4. Added language to prevent assignment of indemnities to businesses buying, selling, marketing, or packing lambs;
  5. Changes to the daily and annual sales limit; and
  6. Modifications to how the actual ending values are calculated.

LRP-Lamb is targeted to have sales resume in May 2015. Producers interested in purchasing an LRP-Lamb Specific Coverage Endorsement must contact a crop insurance agent and complete an application that will be submitted through an Approved Insurance Provider (AIP).

To learn more about USDA Risk Management Agency (RMA) LRP-Lamb, see: http://www.rma.usda.gov/livestock/, or contact a local crop insurance agent.

 
The U.S. Department of Agriculture reminds livestock producers that the Jan. 30, 2015, deadline to request assistance for losses suffered from Oct. 1, 2011 through Dec. 31, 2014, is fast approaching.

The Livestock Indemnity Program provides financial assistance to eligible producers for livestock deaths. Losses can be caused by adverse weather, extreme temperatures, disease, or wildfires, or due to attacks by animals reintroduced into the wild by the federal government or protected by federal law, including wolves and avian predators.

To learn more about the Livestock Disaster Assistance program deadlines see: http://www.fsa.usda.gov/FSA/newsReleases?area=newsroom&subject=landing&topic=ner&newstype=newsrel&type=detail&item=nr_20150121_rel_0003.html or contact a local crop insurance agent.