Livestock Indemnity Program Updated to Reflect Current Market Conditions

The U.S. Department of Agriculture's Farm Service Agency (FSA) announced that they will be updating the 2023 Livestock Indemnity Program (LIP) payment rate for beef calves over 800 pounds will increase from $1244 per head to $1618, an increase of $374.

The payment will apply retroactively to all qualifying losses since January 1, 2023. No action is necessary for retroactive payments, producers will receive an additional payment if applicable.

For current losses, payments will be queued up by as early as next week. FSA acknowledged that some animals might have lost weight due to extreme weather...

 

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