LRP-Lamb Sales Resume Sept. 14

The Livestock Risk Protection-Lamb (LRP-Lamb) plan of insurance will again be available for sale on Sept. 14. The U.S. Department of Agriculture's (USDA) Risk Management Agency (RMA) suspended sales under the 2009 and 2010 LRP-Lamb Specific Coverage Endorsement (SCE) due to the unavailability of pricing information.

The American Sheep Industry Association's (ASI) Sheep Venture Company and the Livestock Marketing Information Center have been working with RMA and the Federal Crop Insurance Corporation (FCIC) for nearly a year on several requested enhancements to LRP-Lamb.

Included in the changes are:

• a new pricing procedure that uses a lamb carcass price converted to a calculated live price using Agricultural Marketing Service (AMS) data;
• the addition of a 20-week endorsement;
• expansion to the state of Washington; and
• a reduction in the maximum size of the SCE from 7,000 head to 2,000 head.

Producers interested in purchasing an LRP-Lamb SCE must contact a crop insurance agent and complete an application that will be submitted through the approved insurance provider to FCIC.

The 2010 reinsurance year LRP-Lamb materials may be accessed on the RMA Web site from the livestock page at http://www.rma.usda.gov/livestock/.

Staff contact: Paul Rodgers