The minimum annual premium is $25.
premium rate x total eligible weight gain for enrolled
Payment rates are based on the difference between the support level and the average market price for the payment calculation period.
The support level is based on the target price multiplied by your chosen coverage level. The cost of production is calculated by OMAFRA, based on the sum of livestock purchase costs, feed costs and yardage.
For lambs, RMP support levels are calculated prior to the program year and remain constant for the program year.
Market prices for each livestock category are collected and calculated by OMAFRA.
For lambs, market prices are calculated weekly and averaged for each payment period.