August 13, 2004
August 13, 2004 -- The U.S. Department of Agriculture's Risk Management Agency (RMA) announced this week that sales of the Livestock Risk Protection (LRP) and Livestock Gross Margin (LGM) Insurance Policies will resume October 1.
Sales for LRP feeder cattle and fed cattle were suspended on Dec. 23, 2003, when bovine spongiform encephalopathy (BSE) was detected in the state of Washington. Changes were submitted by the product developer to address abnormal occurrences, such as BSE.
LRP policies are designed to insure against declining market prices and are currently available for swine, feeder cattle and fed cattle in selected states.
The American Sheep Industry Association is planning to present RMA with a pilot project proposal for a Livestock Risk Protection product for sheep this fall.
Staff contact: Paul Rodgers, 303-771-3500