Industry Update. 2020 USDA's RMA announced a new crop insurance option for HEMP.
Pasture, rangelands and forages cover approximately 55% of all US land. Forage grows differently in different areas, so it's important for farmers and ranchers to know which types and techniques work best for their region. Pasture, Rangeland, and Forage (PRF) utilizes an indexing system to determine conditions. This program is available in Kentucky. The Rainfall Index (RI) is based on weather data collected and maintained by National Oceanic Atmospheric Climate Prediction Center.
The index reflects how much precipitation is received in relative to the long term average for a specified area and timeframe.
PRF is intended for perennial crops or self seeding annual plants maintained through several years of grazing.
The Risk Management Agency's Pasture, Rangeland, and Forage Pilot Insurance Program is designed to provide insurance coverage on your pasture, rangeland, or forage acres. This innovative pilot program is based on precipitation, Rainfall Index. This program is designed to give the ability to buy insurance protection for losses of forage produced for grazing or harvested for hay which result in increased costs for feed, destocking, depopulating other actions.
Click on link to read this news released from the USDA. USDA Expands Forage Crop Insurance Options Nationwide for Livestock and Hay Producers.
Watch the video below from 2013 to learn more about Pasture, Rangeland, and Forage Insurance. Please contact us with any questions you have.