Livestock Risk Protection
Jay Rempe, senior economist, Nebraska Farm Bureau
Regional crop consultant, Farm Bureau Financial Services
Rod Christen, farmer, Pawnee County
Rob Wareham, farmer, Kansas
A pandemic, cybersecurity attack, export ban, import tariffs, and more have rocked cattle markets within the last 12-18 months. It seems like the risks inherent in cattle production are growing every day. Because it is typically 17 months from breeding to calf sale, cow/calf producers are especially susceptive to price risk. Cattle prices can swing wildly and when market shocks occur, it’s too late for producers to respond.
The first of Nebraska Farm Bureau’s Inside Profitability Series will focus on price risk faced by cattle producers and provide information on a risk management tool, Livestock Risk Protection (LRP) insurance, which can be used to manage price risk. LRP is designed to insure against declining market prices for both feeder and fed cattle.
Producers participating will:
- Learn the details of LRP and how it works for both feeder and fed cattle from a Farm Bureau Financial Services expert;
- Hear first-hand from fellow cattle producers on their experiences with LRP—the good and the bad;
- Have the chance to ask questions of the panel on whether LRP might be a viable tool for their operations;
- Receive background information on LRP and contact information for members of the panel for follow up questions or for more details on LRP.
- Provide the chance to ask questions of the presenters.
Listed below are several links to additional materials on LRP:
- Fact Sheet-LRP for Feeder Cattle
- Fact Sheet-LRP for Fed Cattle
- Fact Sheet-LRP for Swine
- Farm Bureau Financial Services
- UNL Analysis of LRP Performance, 2008-2017 (Article & Podcast)
- UNL Information on Improvements in 2021 to LRP (Article & Podcast)
- Zach Hyland, Farm Bureau Financial Services, (515) 423-3692, email@example.com
- Webinar PowerPoint