Lamb producers and feeders will be glad to hear that the Livestock Risk Protection-Lamb (LRP-Lamb) insurance will again be available for sale on Monday, Sept. 14. LRP-Lamb is designed to insure against unexpected declines in the market prices of slaughter lambs.
"As in the past, preliminary rates should be available for review on Friday," stated Glen Fisher, president of the American Sheep Industry Association (ASI). "I think the availability of LRP-Lamb insurance comes at a time when the industry will really be able to benefit from this product."
ASI has updated the LRP-Lamb Education Course, which is available at www.sheepusa.org. This course is designed as a tool for producers and agents to learn more about the product and to offer scenarios to assist with the decision to purchase the insurance.
To view the preliminary rates published each Friday afternoon, as well as the actual rates published each Monday morning, go to www3.rma.usda.gov/apps/livestock_reports/.