Livestock: Livestock Risk Protection (LRP)

Overview

The system supports the processing of the Livestock Risk Protection (LRP) insurance plan. LRP policies cover the difference between the grower's purchased coverage price and the actual price at the end of the insurance period.

LRP policies can have up to three different commodities: Fed Cattle, Feeder Cattle, and Swine.

The system supports the processing of the Livestock Risk Protection (LRP) Fed Cattle insurance plan. LRP provides growers with coverage protection against the unexpected decline in price on weighted prices of heifers and steers marketed for slaughter.

For additional specifics regarding this coverage plan, see the RMA site page for Livestock Risk Protection (LRP) Fed Cattle.

The system supports the processing of the Livestock Risk Protection (LRP) Feeder Cattle insurance plan. LRP provides growers with coverage protection against the unexpected decline in price on weighted prices of marketed feeder cattle.

For additional specifics regarding this coverage plan, see the RMA site page for Livestock Risk Protection (LRP) Feeder Cattle.

The system supports the processing of the Livestock Risk Protection (LRP) Swine insurance plan. LRP provides growers with coverage protection against the unexpected decline in price on weighted prices of marketed hogs.

For additional specifics regarding this coverage plan, see the RMA site page for Livestock Risk Protection (LRP) Swine.

• LRP MUST be established on its OWN policy. It cannot be added to an existing DRP or LGM policy number or to an MPCI or WFRP policy number.
• A Grower Record must exist before an LRP policy can be created. For help with adding a grower, see "Add a Grower".
• For LRP SBIs, RMA requires there to be at least 10% share . This will be keyed in the LRP SBI Share Percent field. If an SBI is ineligible, their ineligible percentage should be keyed in the SBI Share Field. The ineligible SBI's share reduces the overall coverage.
• Beginning Farmer Rancher (BFR)/Veteran Farmer Rancher (VFR) and Conservation Compliance procedures are applicable to the Livestock Risk Protection 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 LRP Policy & Coverage"

"Add Endorsements (SCEs) to an LRP Coverage"