USDA’s Risk Management Agency is changing the Livestock Risk Protection insurance program for feeder cattle, fed cattle and swine starting this summer with the 2021 crop year.
Changes include moving premium due dates to the end of the endorsement period and increasing premium subsidies to assist producers.
RMA Administrator Martin Barbre says these changes will make these policies more usable and affordable for livestock producers.
He adds RMA is working to implement these changes by July 1.
The changes include:
- Allowing premiums to be paid at the end of the endorsement period, putting it in line with other policies.
- Increasing the premium subsidy for coverage levels above 80 percent. Those with an 80 percent or higher coverage level will get a 5-percentage point subsidy increase.
