USDA and the Extension Risk Management Education Program recently co-hosted a webinar focused on livestock risk management and what assistance is available for producers.
“We have risk management agency within our mission area,” noted USDA Undersecretary for Farm Production and Conservation Bill Northey. “We have several crop insurance tools. We call them cattle insurance. Cattle or crop two I guess.”
Northey outlined two of the programs.
“Livestock gross margin very likely used but designed to protect a margin between feed and gross revenue and to insure for a producer that much more heavily used has been risk protection program especially in the feeder cattle side. That’s been its heaviest use.”
He added USDA has made some changes to both programs to increase flexibility for producers.
“Had a comfortable peter cattle crop or a profitable crop coming out of the feed yard,” Northey added. “You are able to be able to afford that risk management tool whether it kicked in or not.”
You can watch the entire webinar, by visiting the University of Nebraska’s Website.
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