LRP-Lamb Sales to Resume April 24
April 21, 2017
Sales of the LRP-Lamb plan of insurance will resume on Monday, April 24. Sales were suspended due to the lack of Livestock Mandatory Reporting price information from the U.S. Department of Agriculture’s Agricultural Marketing Service in early 2016, and available only intermittently since then. LMR price data is integral to the LRP-Lamb ratings program.
“ASI has been working with USDA to find a way to get LRP-Lamb sales restarted during the past year,” said ASI President Mike Corn. “This is the only price-risk tool available to sheep producers and feeders, and in the last 10 years it has returned about $60 million during market downturns to people who bought the insurance. We are pleased that it will finally be available for sale again.”
Preliminary rates will be posted late this afternoon to the ASI website. Contact your authorized crop insurance sales representative if you are interested in purchasing lamb price insurance.
Visit https://sheepusa.org/IssuesPrograms_Programs_Lrplamb for more information on the program.