Livestock risk protection insurance (LRP) is a price insurance policy developed as a price risk management tool for feeder cattle, fed cattle, lamb and swine. It provides a method to establish a floor selling price for livestock, and it protects against catastrophic price declines.
Pasture, Rangeland, and Forage insurance (PRF) is an area-based rainfall index policy that protects insureds against a lack of rainfall on their land. Coverage is available for either pasture or hay land and ranchers can cover up to 90% of their normal average rainfall.
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