First of its kind risk management tool offered for cow-calf producers
The U.S. Department of Agriculture recently announced that now offers Weaned Calf Risk Protection, a new insurance option for livestock producers in several states. This policy, offered by USDA’s Risk Management Agency, offers Actual Production History coverage for beef cow-calf producers to insure revenue from their spring calving operations. Weaned Calf Risk Protection will be available for the 2024 crop year.
“There are many variables and pressures involved in running a cow-calf operation, making it even more important that ranchers have a variety of insurance options available similar to the wide range of options available to crop growers,” said RMA Administrator Marcia Bunger. “The introduction of Weaned Calf Risk Protection reflects our priority to always pay attention to the evolving needs of producers and create options that can meet their unique situation.”
APH policies insure producers against yield losses due to natural causes such as drought, excessive moisture, hail, wind, frost, insects, and disease. In the case of the new Weaned Calf Risk Protection, coverage is provided for a decline in price and loss of yield due to a decrease of overall weaning weight like revenue coverage offered for other crops.
The program will be available in Colorado, Nebraska, South Dakota, and Texas, beginning with the Jan. 31, 2024, sales closing date for the 2024 crop year. Coverage levels between 50 and 85% will be available along with catastrophic coverage.
This new insurance program adds to the suite of livestock insurance available to livestock producers such as Livestock Gross Margin, Livestock Risk Protection, Pasture, Rangeland, Forage, Annual Forage, and Dairy Revenue Protection.
