November 30, 2007
November 30, 2007 - At the conclusion of just 11 weeks of Livestock Risk Protection-Lamb sales, more than 260,000 lambs have already been covered under this new pilot insurance program.
"The American Sheep Industry Association (ASI) is very pleased with sales to date and with the acceptance of this product by our industry. Since this is a pilot program, this plan of insurance must show good sales in order to remain an option for our industry's use," commented Burdell Johnson, ASI president and chairman of the association's insurance agency, Food and Fiber Risk Managers (FFRM).
Both ASI and the FFRM agency have been very active in assisting interested owners of lambs and helping them understand how LRP-Lamb can help them protect against unexpected declines in market prices. Producer leaders, staff and others have made presentations at state affiliate meetings this year and the LRP-Lamb online training course has been a great source of information for interested parties.
"With most lambs in the hands of feeders at this time of year, I am encouraged that they are really giving this new risk management tool a try and have taken the opportunity to protect their market price by participating," concluded Johnson.
As of Monday, Nov. 26, 2007, 120 premium earning policies have been purchased in 16 states. Colorado, South Dakota, Texas and California represent the states with the largest number of lambs insured. Staff contact: Peter Orwick, ext. 33