A sheep industry endorsement for a "Livestock Risk Protection" (LRP) pilot project request, called LRP-Lamb, was submitted this week to the USDA's Risk Management Agency (RMA). The market-based insurance price policy is similar to the concept of the LRP for swine, fed cattle and feeder cattle.

The goal of LRP-Lamb is to offer sheep and lamb producers a user-friendly, easily understandable risk-management tool that efficiently and effectively protects against price downswings, according to the American Sheep Industry Association.

The tool would allow producers to simultaneously price their lambs over an extended time frame, with continuous protection, for all time periods during the year. 

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Source: @griculture Online news
October 8, 2004

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