The U.S. Department of Agriculture’s (USDA) Risk Management Agency (RMA) on Tuesday announced further changes to its Livestock Risk Protection (LRP) insurance plan. The changes took effect on January 20 for crop year 2021 and succeeding crop years.
The changes were part of the last-minute regulatory push by the Trump administration. Outgoing USDA Risk Management Agency Administrator Martin Barbre said, “We are always looking for feedback from producers and other stakeholders,” said RMA Administrator Martin Barbre. “These changes are a direct reflection of that feedback and will improve LRP coverage for producers in 2021 and beyond.”
The improvements to LRP include:
- Increasing livestock head limits for feeder and fed cattle to 6,000 head per endorsement/12,000 head annually and swine to 40,000 head per endorsement/150,000 head annually.
- Modifying the requirement to own insured livestock until the last 60 days of the endorsement.
- Increasing the endorsement lengths for swine up to 52 weeks.
- Creating new feeder cattle and swine types to allow for unborn livestock to be insured.
For more information, see the livestock insurance plans page on the RMA website