USDA Updates Livestock Insurance Programs For Dairy, Cattle, Swine

May 10, 2022

USDA recently updated three insurance options for livestock producers, including Dairy Revenue Protection (DRP), Livestock Gross Margin (LGM) and Livestock Risk Protection (LRP). According to USDA’s Risk Management Agency (RMA), these were revised to reach more producers and offer greater flexibility. The updates will take effect July 1.

“Agriculture is not a static industry, and these updates reflect the importance we place on always knowing the evolving needs of producers and offering the most people the best risk management tools we can,” said RMA Administrator Marcia Bunger.

Under DRP, which is designed to insure against unexpected declines in the quarterly revenue from milk sales relative to a guaranteed coverage level, dairy producers now will be able to continue coverage even if they experience a disaster, such as a barn fire, at their operation.

LGM coverage, which protects against the loss of gross margin (livestock’s market value minus feed costs), has been expanded for cattle, dairy and swine, making it available in all counties in all 50 states.

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Video: Learning to Wrench From Dad the Hard Way

Harvest is a week out and the farm picked this week to fall apart. The truck needs a battery, the barn curtain's got a problem, and the corn and beans are telling us we're out of time to get it all fixed.

So it's a full day of wrenching. Tork supervises while I get the truck back running, then we're out at the hog barn where one rusted up part has the whole curtain system hung up. Ladder work, cable work, and a little dad-and-son disagreement about the right way to do it. We close it out walking the fields, shelling beans and checking corn, because whether everything's fixed or not, harvest starts when harvest starts.

Chapters: 00:00 Everything breaks the week before harvest 01:00 Tork supervises while I fix the truck 12:30 Out to the barn to find the curtain problem 14:30 One rusty part hung up the whole curtain 20:00 Running the curtain cable from the ladder 24:00 Walking the beans and corn before harvest 26:30 Wrapping up

We're a 6th generation family farm in southeast Iowa showing the real ups and downs of pig farming and row crop farming. No script, just the work. Subscribe and follow along.

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