October 2, 2023
The U.S. Department of Agriculture (USDA) announced Sept. 29 a new insurance option for livestock producers in several states. The Weaned Calf Risk Protection policy, offered by USDA’s Risk Management Agency (RMA), offers Actual Production History (APH) coverage for beef cow-calf producers to insure revenue from their spring calving operations. The policy will be available for the 2024 crop year, USDA said.
“There are many variables and pressures involved in running a cow/calf operation, making it even more important that ranchers have a variety of insurance options available similar to the wide range of options available to crop growers,” said RMA Administrator Marcia Bunger. “The introduction of Weaned Calf Risk Protection reflects our priority to always pay attention to the evolving needs of producers and create options that can meet their unique situation.”
APH policies insure producers against yield losses due to natural causes such as drought, excessive moisture, hail, wind, frost, insects, and disease. In the case of the new Weaned Calf Risk Protection, coverage is provided for a decline in price and loss of yield due to a decrease of overall weaning weight like revenue coverage offered for other crops.
The program will be available in Colorado, Nebraska, South Dakota, and Texas, beginning with the Jan. 31, 2024, sales closing date for the 2024 crop year. Coverage levels between 50% and 85% will be available along with catastrophic coverage.
This new insurance program adds to the suite of livestock insurance available to livestock producers such as Livestock Gross Margin (LGM), Livestock Risk Protection (LRP), Pasture, Rangeland, Forage (PRF), Annual Forage (AF), and Dairy Revenue Protection (DRP).
Crop insurance is sold and delivered solely through private crop insurance agents, whom interested producers should contact. A list of crop insurance agents is available at all USDA Service Centers and online at the RMA Agent Locator.
You May Also Like
The dollars and sense of sustainabilityFeb 18, 2023
Current Conditions for
New York, NY
Enter a zip code to see the weather conditions for a different location.