Available for Swine, Fed Cattle, Feeder Cattle, and Lambs. The LRP program is designed to insure against declining market prices for the producer who does not participate in market puts and calls.
- LRP crop year runs from July 1 through June 30
- The coverage price is determined by the daily Chicago Mercantile Exchange trade for the date a contract is signed
- The date the contract expires, if the actual ending value is below the coverage price, the producer may be paid an indemnity