In their Board of Directors meeting, the FCIC board reviewed the 508(h) submission for LRP for sheep and voted to unanimously send the proposal to an external review panel. As with all new proposal submissions, the external review is the next step in the formal review process.
The external review is an extensive procedure to be conducted this fall and winter in order to assist FCIC in making their decision on whether or not to accept the proposal for implementation.
The goal of the LRP-Lamb pilot program is to offer sheep and lamb producers a user-friendly, easily understandable risk-management tool that efficiently and effectively protects against price fluctuations. The tool would allow producers to simultaneously price their lambs over an extended time frame, with continuous protection, for all time periods during the year.
Fifteen U.S. senators submitted a joint letter of support for the LRP-Lamb project while 27 individuals and state sheep associations advocated their backing by also sending letters.
Staff contact: Peter Orwick, ext. 33