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Jun 01, 2023
Livestock Risk Protection (LRP) protects cattle and swine producers against declining market prices and gives them peace of mind. There are different coverage levels and we’ll explain the benefits of how LRP could work for your operation.
LRP coverage is based on a per animal basis and therefore you will not be over- or under-insuring your risk since you do not have to buy a CME contract based on lbs of animals. Per head coverage allows you to “hedge” a certain number of animals at a certain price with the option to cover additional animals at a higher price if the market continues to increase.
LRP allows you to lock in a floor price against a national price decline. An indemnity is not based on what you sell your livestock for. So if the market price continues to increase, you should be able to realize the higher price when you sell your animals.
There are no margin calls with LRP. When the market goes up, you can rest assured you are not putting more money into the coverage.
There is no cost to sign up or upfront cost when you buy coverage. Premium for the coverage is billed at the end of the coverage period.
FBN Insurance has the expertise to serve producers of all sizes. Our agents are here to build a loyal relationship, ensuring stability and trust in times of market loss, mortality loss, or unexpected peril.
Contact FBN for a no obligation policy preview and let us show you how an insurance program could perform for your operation.
To learn more or connect with an agent, visit fbn.com/insurance or call (877) 204-4645.
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Disclaimer: The purpose of the following material is to promote awareness of risk management concepts and to highlight risk management products, features, benefits and availability. This material does not provide full details of policy provisions or approved procedures. Producers should consult with a local agent for specific details and program requirements.
We are an Equal Opportunity Provider. FBN Insurance services are offered by FBN Insurance LLC (dba FBN Insurance Solutions Services LLC in Texas, and FBN Insurance Solutions LLC in California and Michigan). FBN Crop Insurance is currently offered in all U.S. states.
Jun 01, 2023