The U.S. Department of Agriculture's Risk Management Agency posted the following statement on its livestock risk protection website page:
"The Federal Crop Insurance Act authorizes up to $20 million to be spent in support of coverage for pilot livestock plans of insurance. Currently, there are eight livestock plans of insurance. Livestock Gross Margin for Dairy Cattle (LGM-Dairy) and Livestock Risk Protection for Lamb (LRP-Lamb) are no longer available for sale."
"According to sources from across the lamb industry, the LRP-Lamb program has had a very positive impact on the lamb market," commented Peter Orwick, executive director for the American Sheep Industry Association. "The pilot livestock insurance cap will be re-loaded on Oct. 1 with the beginning of the federal government's new fiscal year."
LRP-Lamb will again be available for sale on Monday, Oct. 3.
"For clarification, the insurance cap has no bearing on the payments of indemnities for the LRP-Lamb program; if a producer is due an indemnity, it will be paid." concluded Orwick.