SDSU Extension will discuss the new Weaned Calf Risk Protection Insurance product during its November session of Ag Economic Dialogues.
South Dakota is one of the states chosen to test the new risk protection product from the United States Department of Agriculture-Risk Management Agency.
Weaned Calf Risk Protection Insurance was created to provide cow-calf producers with a price and production risk management option, similar to crop insurance. Coverage includes risk protection against calf death loss, price fluctuations, or price changes with a harvest option.
Producers interested in purchasing the insurance must sign up with a crop insurance agent by Jan. 31, 2024.
“The product was created using crop insurance as a pattern,” said Heather Gessner, SDSU Extension Livestock Business Management Field Specialist. “In this manner, the terms used and requirements in the new product will be easy for producers to understand, even if there is some clunkiness to the implementation.”
Producers are encouraged to talk to their crop insurance agent to learn more about the new product or join the online Ag Economic Dialogues session at 10 a.m. CST on Nov. 17, 2023.
Ag Economic Dialogues is a monthly webinar series that addresses current economic issues farmers and ranchers face. To register, visit the SDSU Extension Events page and search for “Dialogues - November”.Source : usda.gov