USDA’s Livestock Risk Protection Program has gained popularity since the markets tanked during the pandemic. The coverage is flexible and can fit operations of any size.
Dakota Moss owns a risk services company that helps ranchers navigate their operations and get the most benefit from their coverage. He says that ranchers should not have to spend years recovering financially, from that one bad year when the markets did not go in their favor. According to Moss, “Whether it is a cow/calf producer selling cattle this fall and they didn’t want to lock in a price for their calf crop to guarantee that cash flow giving them some risk protection, they can do that. Or, if they are out buying calves right now to run as a summer stocker on grass to sell this fall, we can work with both of those types of producers to give them some guarantees to protect their bottom line and really sure up their operation where they know that when they go to the sale barn this fall, they are not just hoping for the best.”
The Livestock Risk Protection Program was revamped after COVID because USDA saw a need for a much better plan.
Related:
Reevaluating livestock risk management tools
Overcoming price risk protection & drought challenges
USDA is providing payments to livestock producers impacted by drought or wildfire
