Livestock producers who are enrolled in RMP plans for livestock can use the following tips and examples to ensure they have the proper coverage for the upcoming year.
Producers should review the insured production shown on the Policy renewal notice they received in the mail and determine if it needs to be updated.
Tips for estimating insured production
- Insured production represents the livestock to be sold during the current program year.
- The insured production shown on the Policy renewal notice is based on 2012 coverage. If it will be different for 2013, the producer must notify Agricorp.
- Some plan categories insure based on the number of head, while others insure based on eligible weight gain. When estimating insured production, consider:
- The number of head to be sold in a category. For example, if the producer plans on selling 50 calves, they should insure 50 head in the cow-calf category.
- The amount of eligible weight gain in each category the animal is enrolled in. For example, if the producer plans on selling 50 head of backgrounder cattle, they should insure the total amount of eligible weight those 50 backgrounders will gain.
Examples of estimating insured production
For more information about how to estimate insured production, contact Agricorp at 1-888-247-4999 to speak with a customer care representative.