The Department of Agriculture Tuesday announced further changes to the Livestock Risk Protection insurance plan will take effect on January 20 for crop year 2021 and succeeding crop years.
The changes are part of the last-minute regulatory push by the Trump administration. Outgoing USDA Risk Management Agency Administrator Martin Barbre says, “These changes are a direct reflection of that feedback and will improve LRP coverage for producers in 2021 and beyond.”
USDA says the improvements include increasing livestock head limits for feeder and fed cattle to 6,000 head per endorsement or 12,000 head annually and swine to 40,000 head per endorsement or 150,000 head annually.
Additionally, the changes announced Tuesday modify the requirement to own insured livestock until the last 60 days of the endorsement.
USDA is also increasing the endorsement lengths for swine up to 52 weeks and creating new feeder cattle and swine types to allow for unborn livestock to be insured.
(Story Courtesy of the NAFB News Service)