If you have or are considering Livestock Risk Protection Insurance, there’s some changes you should know about.
The U.S. Department of Agriculture says it has increased premium subsidies starting in 2021 as part of some sweeping changes to the program.
Other changes include increasing livestock head limits, increasing swing endorsement lengths and allowing unborn livestock to be insured.
We spoke with Farm Credit Services of Mandan which says now is the time to consider insurance, especially with how volatile the markets are.
“It is a great risk management tool to protect against the decline in market price especially with the fluctuation in the markets right now. It’s a good time to at least give your agent a call check into it and see if it’s something that would work for them,” said Carrie Scheeler with Farm Credit Services of Mandan.
The changes are expected to provide more ranchers with better coverage, for less money.