Livestock Insurance
Dairy Revenue Protection (DRP)
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Available October 9th, 2018 for daily sales (provided available in the actuarials)
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Insures against unexpected declines in the quarterly revenue from milk sales relative to a guaranteed coverage level selected.
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Based on futures prices for milk and dairy commodities and the amount of covered milk production elected; sold on component or class pricing.
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The covered milk production is indexed to the state or region where the dairy producer is located.
Livestock Gross Margin (LGM)
Available on:
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CATTLE – Provides protection against loss of gross margin (market value of cattle minus feeder cattle and feed costs) on cattle.
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HOGS- Provides protection of the gross margin between the value of insured hogs and the cost of corn and soybean meal.
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DAIRY CATTLE- provides protection against the loss of gross margin (market value of milk minus feed costs) on the milk produced from dairy cows.
Livestock Risk Protection (LRP)
Available on:
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CATTLE, SWINE & LAMBS – Provides protection against declining livestock prices if the price, as specified in the policy, drops below the producer’s selected coverage price.