5/27/2015 2:43:26 AM
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The capacity for LGM Dairy Cattle insurance has been depleted. Sales have been suspended until further notice or until October 2015, when 2016 fiscal year funds are made available.
RMA will post the actual gross margins for LGM within three weeks after the corn settlement date (March, May, July, September and December). These months coincide with all three contract settlements, swine/cattle/milk, corn, and soybean meal.
The Federal Crop Insurance Act limits the funds available to support livestock plans of insurance to $20 million in a fiscal year. RMA has allocated additional funding to the Livestock Gross Margin for Dairy Cattle (LGM-Dairy) plan of insurance for the December 26, 2014, sales period. However, depending on the participation in the December 26, 2014, sales period, capacity for LGM-Dairy may be exhausted for the remainder of the 2015 insurance year.
Dairy producers enrolled in the FSA Margin Protection Program for Dairy (MPP-Dairy) are prohibited by law from participating in the LGM-Dairy program at the same time. The MPP-Dairy program is a one-time enrollment and once enrolled you will no longer be able to purchase LGM-Dairy until the MPP-Dairy program ends or is modified.
If offers are not available on the RMA website by 4:30 p.m. CST of the sales effective date, no offers will be made for LRP Fed Cattle, Feeders, and Swine.
LRP Coverage Prices, Rates, and Actual Ending Values
LGM Expected and Actual Gross Margin