Your local Virginia Farm Bureau Crop Insurance Specialist will work with you to tailor a protection plan to meet your needs.
Livestock Risk Protection (LRP) is designed to provide protection on fed cattle, feeder cattle, sheep, and swine against a price decline during the policy coverage period.
Contact your local Farm Bureau agent or our State Crop Specialist for more information about how Farm Bureau Insurance can help meet your insurance needs.
LRP is priced and available for sale continuously throughout the year. Coverage is determined by multiplying the number of livestock to be marketed by the market weight by the coverage price by the insured share. Coverage levels range from 70% to 100% of the daily livestock prices.
- Provides downside price protection without limiting the upside sales
- Prices based on Chicago Mercantile Exchange (CME) daily closing
- Affordable, when compared to other types of price protection
- Guaranteed price, no bid/ask spread
- Coverage levels from 70% to 100% of the coverage price
- Coverage for feeder cattle 1-1,000 head, maximum of 2,000 head per year
- Coverage for fed cattle 1-2,000 head, maximum of 4,000 head per year
- Coverage for swine 1-10,000 head, maximum of 32,000 head per year
- May be viewed more favorably by lenders than hedging or speculating (derivative products)
Click the link for more information about LRP Coverage Prices, Rates, and Actual Ending Values Criteria.