Dairy & Livestock Insurance Product Comparison
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| Dairy Revenue Protection (DRP) | Livestock Gross Margin (LGM) | Livestock Risk Protection (LRP) |
|---|---|---|
| Benefit | ||
| Flexible; responds to dairy futures market prices; can be used with Dairy Margin Coverage; simpler than using futures or options; can make multiple endorsements during a week/ quarter. | Flexible; covers fed cattle, swine or dairy production; responds to futures market prices. Can endorse once a week. Cannot have LGM Dairy and DRP for the same quarter. Insure monthly production and costs. |
Covers fed cattle, feeder cattle and swine; offered on a per-head basis; can choose number of head and end of insurance period. |
| Insures Against | ||
| Loss of revenue due to decline in milk prices. | Decrease in margin caused by a drop in livestock price or an increase in feed cost. | Decline in livestock market prices. |
| Guarantee | ||
| Price per cwt on Class III, Class IV or components. | Gross margin between revenue and feed costs. | Price per cwt for cattle or swine. |
| Price | ||
| Prices based off Chicago Mercantile Exchange (CME). | Milk — Price based off Chicago Mercantile Exchange (CME). Feed Cost — Based off Chicago Board of Trade Corn and Soybean Meal. |
Prices based off the Chicago Mercantile Exchange (CME). |
| Additional Information | ||
| Contact an Agent | Contact an Agent | Contact an Agent |
Compare Our Products
Dairy Revenue Protection (DRP)
Flexible; responds to dairy futures market prices; can be used with Dairy Margin Coverage; simpler than using futures or options; can make multiple endorsements during a week/ quarter.
Loss of revenue due to decline in milk prices.
Price per cwt on Class III, Class IV or components.
Prices based off Chicago Mercantile Exchange (CME).
Livestock Gross Margin (LGM)
Flexible; covers fed cattle, swine or dairy production; responds to futures market prices. Can endorse once a week.
Cannot have LGM Dairy and DRP for the same quarter. Insure monthly production and costs.
Decrease in margin caused by a drop in livestock price or an increase in feed cost.
Gross margin between revenue and feed costs.
Milk — Price based off Chicago Mercantile Exchange (CME).
Feed Cost — Based off Chicago Board of Trade Corn and Soybean Meal.
Livestock Risk Protection (LRP)
Covers fed cattle, feeder cattle and swine; offered on a per-head basis; can choose number of head and end of insurance period.
Decline in livestock market prices.
Price per cwt for cattle or swine.
Prices based off the Chicago Mercantile Exchange (CME).