Livestock Gross Margin Swine

Background

The Federal Crop Insurance Corporation's Board of Directors (Board) approved revisions to the Dairy Revenue Protection (DRP) plan of insurance, under section 508(h) of the Federal Crop Insurance Act, on November 20, 2020. The Board also approved revisions to the Livestock Gross Margin (LGM) plans of insurance, under section 508(h) of the Federal Crop Insurance Act, on June 23, 2020. The following revisions are applicable for the 2022 and succeeding crop years:

Dairy Revenue Protection changes include:

As of April 23, 2021 the following information is now available on the FTP site:

• 2022 Actuarial Data Master for the 4/30 Filing Date, YTD, and Daily Files.
• 2022 Special Provisions for the 4/30 Filing Date.

Users can find this information in the following directories:

• 2022 Actuarial Data Master are in the References/Actuarial_Data_Master/2022 directory.
• 2022 Special Provisions are in the Special_Provisions/2022 directory.

Additional notes and details regarding this data release:

Background

The Risk Management Agency (RMA) has revised the Livestock Risk Protection and Livestock Gross Margin-Cattle, Dairy, and Swine Basic Provisions to incorporate changes made in the 2014 Farm Bill Final Rule published in the Federal Register on June 30, 2016. Additionally, these Basic Provisions have been revised to incorporate changes previously made in the Ineligibility Amendment.

The new provisions are effective for the 2018 and succeeding crop years.

As of

Background

The Federal Crop Insurance Corporation Board of Directors (Board) approved revisions to the Livestock Gross Margin (LGM) plan of insurance for Cattle, Dairy, and Swine, under section 508(h) of the Federal Crop Insurance Act, on June 23, 2020. The following revisions are applicable for the 2021 and succeeding crop years:

Background

The Livestock Gross Margin (LGM) actual gross margins are posted by the Risk Management Agency (RMA) by the end of the first full business week of the months of February, April, June, August, October, and December. Due to the COVID-19 pandemic and its impact on the livestock industry, RMA is expediting the release of actual ending values to allow producers to receive payments faster.

Background

The Federal Crop Insurance Corporation's (FCIC) Board of Directors (Board) approved revisions of the Livestock Gross Margin (LGM) for Cattle, Dairy Cattle, and Swine plans of insurance on March 27, 2019, submitted under Section 523(b) of the Federal Crop Insurance Act.

The revisions include removing the following program limitations for the 2020 crop year starting July 1, 2019:

As of March 28, 2019 the following information is now available on the FTP site:

• 2020 Actuarial Data Master for the 4/30 Filing Date, YTD, and Daily Files.
• 2020 Special Provisions for the 4/30 Filing Date.

Users can find this information in the following directories:

• 2020 Actuarial Data Master are in the References/Actuarial_Data_Master/2020 directory.
• 2020 Special Provisions are in the Special_Provisions/2020 directory.

Additional notes and details regarding this data release:

FarmRisk, Inc. (FarmRisk), the developers of the Livestock Gross Margin (LGM) plan of insurance, advised the Federal Crop Insurance Corporation (FCIC) Board of Directors (Board) of their intent to continue maintenance of the LGM plan of insurance and charge a user fee to approved insurance providers (AIP) selling the plan. Section 522(b)(4)(C) of the Federal Crop Insurance Act (Act) allows submitters to maintain approved 508(h) products and charge a user fee to approved insurance providers (AIP) that elect to sell the policy.