News
USDA makes changes to livestock insurance program
USDA’s Risk Management Agency has announced changes to the Livestock Gross Margin (LGM) program for cattle and swine for the 2021 marketing year.
The changes include the addition of premium subsidies to assist producers and moving premium due dates to the end of the endorsement period for cattle.
The added subsidies will be based on the deductible selected by the producer. The subsidies will range from 18% with no deductible to 50% with a $70 or greater deductible for cattle and a $12 or greater deductible for swine.
RMA Administrator Martin Barbre says the changes are part of their continued effort to make livestock policies more affordable and accessible and that they are working to implement the changes by the July 31st sales period.
