News

Protecting the highs

Illinois beef producers are looking to protect their profitability.       

The president of the Illinois Beef Association says producers should familiarize themselves with the Livestock Risk Protection (LRP) program.

Dave Duzan, raises cattle in McLean County…

“When this thing rolls over and we start to build cowherd numbers back, people are going to have to look at these types of things because there’s going to be a tremendous amount of risk,” he says.

He tells Brownfield the program fits into a producer’s marketing plan.

“I think that is probably the most underused form of marketing, that small and mid-size cow/calf producers have.” He says, “I mean, it’s basically the livestock side of a subsidized program, similar to what grain producers have with federal crop insurance.”

Duzan says the LRP program is producer friendly.

“Producers can basically lock in a price.”  He says, “They don’t pay the premium till after the cattle are sold. It’s just a great way to put a floor under some of these cattle.”

The Farm Service Agency just recently announced new online tools to make the LRP program easier for producers to navigate.

From the Illinois Beef Association Annual Meeting in Springfield.  I’m Jared White for Brownfield.

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!