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Changes coming soon to LGM

A farm insurance specialist says changes are coming soon to the Livestock Gross Margin program.

Michelle Sell with Compeer Financial tells Brownfield there are several LGM changes that will take effect July 1st, which is the start of the new crop year. “Those include some changes in the timing and methodology for how the actual and expected prices are calculated, which should make LGM a little more user-friendly.”

Sell says some of the livestock marketing windows within LGM will open wider. “There’s also going to be some added flexibility to market swine and cattle either earlier or later than anticipated, along with for LGM cattle, some flexibility in choosing the cattle weight and corn amount used in the coverage.”

Sell says producers should closely examine programs including the Livestock Gross Margin, Livestock Risk Protection, and Dairy Revenue Protection programs with their insurance advisor to find the best fit for the farm’s profitability.

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