Understanding 508(h) Insurance Programs: DRP, LRP, and LGM Explained
Explore how Dairy Revenue Protection (DRP), Livestock Risk Protection (LRP), and Livestock Gross Margin (LGM) help manage market volatility and protect producer income.
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Over the last few weeks, we received a number of questions on eligibility for Cull Cows type. Presented cases fall into two categories: (1) dairy farmers selling older cows on a local auction, rather...
Dairy Revenue Protection uses Federal Milk Marketing Order pricing factors to calculate milk component prices. The rules for the conversions are included in the Basic Provisions and the Commodity...
An agent asked me recently: If a customer buys class III DRP endorsement, and then wants to sell cheese puts does the legal language apply to that as well in regards to waiting five days and also the...
TL;DR: No, they are not. In Livestock Gross Margin for Cattle Basic Provisions, we find several definitions relevant to this question: Target marketings – Your determination as to the number of...
At the Federal Crop Insurance Corporation Board of Directors meeting held on August 13-15, 2025, the Board approved changes to Dairy Revenue Protection policy that would allow concurrent use of DRP...
At the Federal Crop Insurance Corporation Board of Directors meeting held on August 13-15, 2025, the Board approved changes to Dairy Revenue Protection sales period rules, effective with crop year...
An agent asked me a question this morning: I had a dairy that we work with call in this am. He is getting close to writing a contract with LRP. He had another dairyman tell him that you cant use LRP...
Bozic LLC and Parameter Climate are planning to form a joint venture to explore developing a new poultry insurance product under Section 508(h) of the Federal Crop Insurance Act. Earlier today, I sent...
On July 4th, 2025, President Trump signed into law “An Act to provide for reconciliationpursuant to title II of H. Con. Res. 14.“, colloquially referred to as The One, Big, Beautiful Bill...