Industry Update. 2020 USDA's RMA announced a new crop insurance option for HEMP.
The Livestock Risk Protection Insurance Plan for is designed to insure against declining market prices. You may choose from a variety of coverage levels and insurance periods that match the time your livestock would normally be marketed (ownership may be retained).
You may choose coverage prices ranging from 70 to 100 percent of the expected ending value. At the end of the insurance period, if the actual ending value is below the coverage price, you will be paid an indemnity for the difference between the coverage price and actual ending value.
You submit a one-time application for LRP-Feeder Cattle coverage. After the application is accepted, you can buy specific coverage endorsements throughout the year.
The link below will take you to LRP Coverage Prices, Rates, and Actual Ending Values Criteria https://www3.rma.usda.gov/apps/livestock_reports/main.aspx