Risk Management Agency Administrator Martin Barbre has made changes to the Livestock Gross Margin Insurance program for cattle and swine producers for 2021. Changes Include adding premium subsidies and moving premium dates to the end of the endorsement period for cattle. South Dakota Cattlemen’s Association President Eric Jennings says that’ll be helpful for cattle producers who have been hit hard by the COVID 19 pandemic.
He says moving the premium due date along with increasing premium subsidies is a good move and bringing livestock insurance in line with crop insurance makes sense.
Jennings says cattle producers have several costs and risks to deal with, especially in dealing with a global marketplace which increases that risk making the Livestock Gross Margin Insurance program even more important.
The RMA is working to ensure the changes which go into effect in 2021 be implemented by the July 31 sales period this year.
