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Livestock Insurance Programs Available in the Pacific Northwest

Posted by robertk | June 24, 2015

USDA/Risk Management Agency
News Release

Release No.: RMA-15-098

Contact:
Jo Lynne Seufer (509) 228-6320
jo.lynne.seufer@rma.usda.gov

Livestock Insurance Programs Available in the Pacific Northwest 

Livestock Producers Need to Make Coverage Decisions Starting July 1

SPOKANE, Wash., June 24, 2015 — The USDA Risk Management Agency’s (RMA) Spokane Regional Office reminds livestock producers in the Pacific Northwest of upcoming important dates for federal livestock risk management programs available in all counties in Idaho, Oregon, and Washington.

The Livestock Risk Protection (LRP) program for fed cattle, feeder cattle, and swine and the Livestock Gross Margin (LGM) program for swine begin sales for the 2016 crop year on July 1, 2015. Sales will continue through June 30, 2016, or until the maximum underwriting capacity is reached. Livestock producers are encouraged to review their insurance coverage and talk to their livestock insurance agents before renewing or buying a policy.

LRP coverage protects the policyholder from the risk of prices dropping during the insurance period. LGM provides protection against the livestock’s loss of market value after feed costs. LRP and LGM do not cover any other peril such as mortality, condemnation, physical damage, disease, individual marketing decisions, local price deviations, or any other cause of loss.

Livestock producers are encouraged to contact a local livestock insurance agent to learn additional details. Federal livestock insurance program policies are sold and delivered solely through private livestock insurance companies. A list of livestock insurance agents is available at all USDA Service Centers and online at the RMA Agent Locator (http://www.rma.usda.gov/tools/agent.html). The RMA Spokane Regional Office serves producers in Alaska, Idaho, Oregon and Washington. Learn more about federal livestock insurance, federal crop insurance, and the modern farm safety net at www.rma.usda.gov.

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