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The Risk Management Agency (RMA) has released a revised 2019 Livestock Price Reinsurance Agreement (LPRA) Appendix II, with changes to Exhibits V(b) and (c) in the 2019 LPRA Plan of Operation Template at https://www.rma.usda.gov/policy-procedure/reinsurance-agreements. These exhibits were revised to include the new Dairy Revenue Protection (DRP) plan of insurance, to be implemented later this year. DRP will be available in all states.
The 2019 Appendix III to the Standard Reinsurance Agreement and the Livestock Price Reinsurance Agreement (Appendix III) has been updated with approved modifications. Appendix III is available electronically via the Risk Management Agency (RMA) website.
Modifications in the 2019 Appendix III include:
Data narrative changes that included:
The Agricultural Act of 2014 (2014 Act) authorized the Margin Protection Program for Dairy (MPP-Dairy). MPP-Dairy, administered by the Farm Service Agency (FSA), is a voluntary program that offers both catastrophic coverage and various levels of buy-up coverage.
The Risk Management Agency (RMA) has released the 2019 Standard Reinsurance Agreement (SRA) and Appendices I, II, and IV, and the 2019 Livestock Price Reinsurance Agreement (LPRA) and Appendices I, II, and IV, which become effective July 1, 2018. The documents are located on the RMA website at www.rma.usda.gov/pubs/ra/. The draft Appendix III that provides standards, procedure and instructions for reporting data to RMA will be issued by May 2018.
The following revisions/additions were made:
The Margin Protection Program for Dairy (MPP-Dairy), administered by the Farm Service Agency (FSA), and the Livestock Gross Margin for Dairy policy (LGM-Dairy), administered by the Risk Management Agency (RMA), offer similar risk management protection for dairy producers. Under the Federal Crop Insurance Act, producers are prohibited from participating in both programs at the same time.
The 2018 Appendix III to the Standard Reinsurance Agreement and the Livestock Price Reinsurance Agreement (Appendix III) has been updated with approved modifications. Appendix III is available electronically via the Risk Management Agency (RMA) website at www.rma.usda.gov/policy-procedure/appendix-iiim-13-handbook-index under the Appendix III/M-13 directory.
Modifications in the 2018 Appendix III include:
In light of the severe drought conditions in Montana, North Dakota, and South Dakota, producers are struggling to find adequate supplies of feed or forage, causing them to market their livestock sooner than anticipated. In response, the United States Department of Agriculture recently announced measures to assist producers affected by severe drought conditions in Montana, North Dakota, and South Dakota.
The Federal Crop Insurance Act limited the amount of funds available to support livestock plans of insurance to $20 million per fiscal year. On February 9, 2018, the Bipartisan Budget Act of 2018 was signed into law removing the $20 million fund limitation placed on livestock plans of insurance offered by the Risk Management Agency (RMA).
