Livestock (LRP & LGM)
Livestock Price Insurance is available for swine, cattle, lambs, and milk. These policies are to insure against declining market prices of livestock – coverage is determined using future and options pricing from the Chicago Mercantile Exchange Group.
Livestock Risk Protection (LRP) provides coverage against market price decline if the ending price is less than the producer determined beginning price and indemnity is due. Livestock Gross Margin (LGM) provides coverage for the difference between commodity and feeding costs.