KANSAS CITY, Mo. (RFD-TV) — With recent volatility in the cattle market, producers across the country are taking a closer look at their risk-management options. Many are turning to Livestock Risk Protection (LRP) as a tool to help shield their operations from sudden price swings. Jake Charleston with Specialty Risk Insurance joined us on Tuesday’s Market Day Report to break down how LRP fits into today’s market conditions and what livestock producers should keep in mind moving forward.
In his interview with RFD-TV News, Charleston explained that the recent drop in cattle prices is a clear example of when LRP can provide major benefits, noting that the program allows producers to lock in a floor price while still leaving room to capitalize on any market gains. He said those who were already enrolled likely saw meaningful protection during the downturn.
For those who have not signed up, Charleston emphasized that it is not too late. LRP can be purchased year-round, and amid continued market uncertainty, he encouraged producers to consider coverage options that align with their marketing plans and risk tolerance. He also urged producers to stay aware of deadlines and review other insurance tools that may support their operations — from pasture and forage coverage to policies designed specifically for livestock operations. He noted that having a full understanding of available programs is key to building a strong risk-management strategy.
Missouri Cattle RanchHER Alda Owen joined us on Monday’s Market Day Report to talk about the all-new episode of FarmHER + RanchHER, which premieres on Thursday, Sept. 19!
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