Livestock Risk Protection (LRP), Livestock Gross Margin (LGM), and Dairy Revenue Protection (DRP) Crop Insurance Modifications

Per Product Management Bulletin PM-23-022, the following modifications will be effective for 2024 and succeeding crop years for Livestock Risk Protection, Livestock Gross Margin and Dairy Revenue Protection:

• Livestock Risk Protection Changes:
  • End of sales period modified to 8:25 a.m. Central Standard Time
  • Modified the price series to “Over 80% Choice” for LRP-Fed Cattle
• Livestock Gross Margin Changes:
  • Producers are allowed to sign application for coverage ahead of sales period;
  • Revised premium billing date to clarify multiple endorsements are purchased;
  • Clarified policy terms;
  • For LGM Dairy, Increased requirement for actual marketings from 75% to 85% of cumulative target marketings to match the Dairy Revenue Protection programs; and
  • End of the sales period modified to 8:25 a.m. Central Standard Time for LGM Cattle and Swine
• Dairy Revenue Protection Changes:
  • Updated form standards to conform with the required statements contained in the FCIC 24040 Document and Supplemental Standards Handbook (DSSH) requiring due process/ineligibility notification letters be sent to both the transferee and transferor.

Please access the following hyperlink to review the bulletin in full: https://rma.usda.gov/en/Policy-and-Procedure/Bulletins-and-Memos/2023/PM-23-022