Livestock: Livestock Gross Margin (LGM)

Overview

The system supports the processing of the Livestock Gross Margin (LGM) insurance plan. LGM policies cover the positive difference between the gross margin guarantee and the actual gross margin at the end of the insurance period.

LGM policies can have up to three different commodities: Cattle, Dairy Cattle, and Swine.

The system supports the processing of the Livestock Gross Margin (LGM) for Cattle insurance plan. LGM Cattle provides coverage protection against the loss of the gross margin on cattle.

For additional specifics regarding this coverage plan, see the RMA site page for Livestock Gross Margin (LGM) Cattle.

he system supports the processing of the Livestock Fross Margin (LGM) for Dairy Cattle insurance plan. LGM Dairy Cattle provides coverage protection against the unexpected rise in price of feed costs or unexpected decline in milk prices.

For additional specifics regarding this coverage plan, see the RMA site page for Livestock Gross Margin (LGM) Dairy Cattle.

The system supports the processing of the Livestock Gross Margin (LGM) Swine insurance plan. LGM Swine provides coverage protection against the loss of the gross margin on hogs.

For additional specifics regarding this coverage plan, see the RMA site page for Livestock Gross Margin (LGM) Swine.

• LGM MUST be established on its OWN policy. It cannot be added to an existing DRP or LRP policy number or to an MPCI or WFRP policy number.
• A Grower Record must exist before an LGM policy can be created. For help with adding a grower, see "Add a Grower".
• Beginning Farmer Rancher (BFR)/Veteran Farmer Rancher (VFR) and Conservation Compliance procedures are applicable to the Livestock Gross Margin Program. The designations for both BFR/VFR and Conservation Compliance for the Grower and/or SBI(s) need to be made on the Grower tab in order for the System to apply the correct logic to account for each.

 

Want to learn more?

"Create an LGM Policy & Coverage"

"Add Endorsements (SCEs) to an LGM Coverage - Cattle"

"Add Endorsements (SCEs) to an LGM Coverage - Dairy Cattle"

"Add Endorsements (SCEs) to an LGM Coverage - Swine"