Background

The Federal Crop Insurance Corporation's (FCIC) Board of Directors (Board) approved changes to the Livestock Risk Protection (LRP) plan of insurance for Feeder Cattle, Fed Cattle, and Swine, under section 508(h) of the Federal Crop Insurance Act, on May 21, 2020. The Board approved the following changes requested by Applied Analytics Group, the submitters of the LRP plan of insurance:

Background

The Risk Management Agency (RMA) uses fertilizer prices posted by the Chicago Mercantile Exchange Group (CME) to establish guarantees and determine indemnities under the Margin Protection (MP) Plan of Insurance. The CME has recently discontinued posting swaps prices for Urea (as of January 2020) and Diammonium Phosphate (DAP) (following the March 2020 contract). As a result of the change in available price data, RMA is updating the MP price provisions to utilize futures prices for Urea and DAP.

Background

The Risk Management Agency (RMA) and the Dairy Revenue Protection (DRP) submitter identified that there is potential for prices to vary from the market-closing price established on Friday afternoon as compared to prices when trading resumes on Sunday afternoon.

Background

The Common Crop Insurance Policy, Basic Provisions (BP) state that interest will accrue starting the first day of the month, following issuance of the notice of premium due by the Approved Insurance Provider (AIP), provided that a minimum of 30 days has passed from the premium billing date.

Background

The Farm Service Agency (FSA) released Notice CP-757 to its State and County Offices, which waives late file fees for an acreage report (FSA-578) when filed within 30 days of the acreage reporting date (ARD).

Although the crop insurance program does not require an FSA-578 to report acreage for crop insurance purposes, industry stakeholders have requested clarification from the Risk Management Agency (RMA) regarding implications of FSA Notice CP-757 to the crop insurance program.

Background

The Federal Crop Insurance Corporation (FCIC) revised the Canola and Rapeseed Crop Provisions for the 2021 and succeeding crop years. These provisions were revised to clarify policy provisions and for consistency with other crop provisions that offer coverage on both fall and spring-planted acreage of the crop in the same county.

Action

The following document will be available by close of business today on the RMA website at www.rma.usda.gov:

Background

The Agricultural Marketing Service (AMS) has suspended reporting of the National Weekly Slaughter Sheep Review (LM_LM352) formula price to comply with confidentiality requirements.

Background

On July 16, 2019, the Risk Management Agency (RMA) issued Manager’s Bulletin MGR-19-021 Agriculture Risk Protection Act (ARPA) List Review Standards. This guidance provides clear expectations of what actions AIPs are to perform regarding the Agriculture Risk Protection Act (ARPA) List, including specific actions AIPs are to take with respect to agents and adjusters identified on the ARPA List. The guidance also instructs AIPs how those actions, along with the results, should be reported to RMA.

As of May 19, 2020 the following information is now available on the FTP site:

• 2020 Actuarial Data Master for the 4/30, 8/31 Filing Date, YTD, and Daily Files.
• 2021 Actuarial Data Master for the 4/30 Filing Date, YTD, and Daily Files.

Users can find this information in the following directories:

Background

In accordance with Section 8 of the Rainfall and Vegetation Index Plan Common Policy Basic Provisions, final grid indices and payment calculation factors have been determined and approved for the following: