Upcoming LRP Changes

Livestock Risk Protection (LRP) continues to be a hot topic among the cattle industry, gaining much deserved attention from producers across the nation. LRP is an easy way to insure yourself from an overall market decline. With the increased volatility and high prices, we are seeing in today’s market it proves to not only be profitable but gives peace of mind.

  Beginning July 1, 2024 there a few changes to the LRP policy.

· There will be no coverage options available on the days the USDA releases a Cattle of Feed Report. Currently, those reports are scheduled for Fridays on: July 19, August 23, September 20, October 25, November 22, and December 20.

· There is now a 120 day window to market FAT cattle. You have up to 60 days prior to the contract ending and up to 60 days after the end date. This is for fat cattle only.

· As a reminder, all LRP coverages must be placed by 8 A.M. the following business day. This does mean Fridays prices must be placed by 8 A.M. on Saturday.

  If you are interested in learning more about LRP or have questions about the upcoming changes, contact our office anytime at 660-433-6300.

 

 

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