The Livestock Risk Protection

The Livestock Risk Protection (LRP) for Lamb program offers protection against a decline in prices below the established coverage price. To determine the current prices, go to the following link and click on LRP Coverage Prices, Rates and Actual Ending Values and follow the directions to obtain an LRP report: http://www3.rma.usda.gov/apps/livestock_reports/

To locate a Livestock Price Insurance Provider:   http://www3.rma.usda.gov/tools/agents/companies/2008/indexLPI.cfm

Lambs covered under the LRP policy are feeder or slaughter lambs that are expected to weigh between 50 and 150 pounds by the Ending Period.  For details about the program, underwriting rules and calculation worksheets, go to:   http://www.rma.usda.gov/livestock/

LRP-Lamb Now Available in Washington State

The Livestock Risk Protection Lamb (LRP-Lamb) program has been expanded to include all counties in Washington state. In addition, the following changes have been implemented:

    • moved to using the Agricultural Marketing Service’s “formula carcass” price series converted to a live basis by use of the dressing percentage to establish coverage;

    • addition of a 20-week endorsement to better fit the production and marketing cycles of range and inter-mountain operations; and

    • changed the limit for an individual Specific Coverage Endorsement from 7,000 head to 2,000 head.

Sales of the LRP-Lamb under the new Specific Coverage Endorsement begin Sept. 14th.
Producers are encouraged to contact a local livestock insurance agent to learn more. Federal crop insurance program policies are sold and delivered solely through private crop and livestock insurance companies. A list of livestock crop insurance agents is available at your local USDA Service Center or online at: http://www3.rma.usda.gov/tools/agents