Source: MORNING AG CLIPS, 4/30/19

USDA recently announced significant improvements to the Livestock Risk Protection Insurance Plan (LRP), a program that allows cattle producers to insure against unexpected price declines. LRP allows producers to insure between 70% and 100% of the projected price of their cattle. The projected price is based upon feeder cattle futures prices and varies depending upon the type of cattle (e.g., steers or heifers) and the weight of the cattle.

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