The LRP program insures against declining market prices. LRP coverage is available year round.
Coverage options vary from 13-52 weeks and should end at the time closest to when the livestock will be marketed. Government subsidies are available, ranging from 35-55%. An application must be submitted and accepted before coverage can be purchased. Multiple coverage endorsements can be purchased throughout the year and each endorsement settles individually. Premium is not billed until the first day of the month following the end date of each endorsement.