top of page
Livestock Revenue Protection (LRP)
Save yourself from fluctuating livestock prices
What is LRP?
Livestock Revenue Protection (LRP) is an insurance program designed to help livestock producers manage revenue risks due to fluctuations in livestock prices and production levels. It provides financial protection against declines in revenue caused by lower-than-expected market prices or reduced production.
All you need to know about Livestock Revenue Protection
-
Coverage: Insures revenue based on the amount of livestock produced and market prices, covering up to 100% of expected revenue.
-
Trigger: Coverage is activated when actual revenue falls below the insured revenue level, determined by comparing expected and actual prices and production.
-
Policy Customization: Allows producers to select coverage levels, revenue protection amounts, and policy terms based on their needs.
-
Premium Calculation: Premiums are based on the coverage level, expected revenue, and market conditions, with potential subsidies from the federal government.
-
Claim Process: Claims are made when revenue shortfalls occur, with payments covering the difference between insured and actual revenue.
-
Benefits: Provides income stability, mitigates price volatility risks, and offers a financial safety net against adverse market conditions.
bottom of page