Livestock Risk Management product demand is seeing “astronomical growth”
Demand for Livestock Risk Management products is out of this world with the USDA’s Risk Management Agency Administrator saying it is showing astronomical growth.
“LRP grew by 250 percent in two years. We have about 27 million head of cattle that are insured. LGM grew by 600 percent over the last two years. And that is insuring about 14-and-a-half million head of livestock,” said Marcia Bunger.
Insuring pasture, range land, and forage products is also growing in popularity. Bunger says there is actually more acreage there covered than acres of corn, wheat, and beans combined.