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3. 2026 Extension Risk Management Education National Conference

Livestock Risk Management - Tools and Tips for Teaching LRP

Garth Ruff

Summary

Beef cattle markets have been at or near record highs over the past couple of years, due in large part to limited cattle supply. With increased cattle value, comes increased risk for beef cattle producers. Producer risk tolerance varies greatly depending on market volatility, class of cattle, number of head, and cost of production. While not a new USDA program, Livestock Risk Protection (LRP) has become a more cost effective risk management option for cattle producers due to increased premium subsidies. As a tool in the livestock risk management toolbox LRP can be intimidating for new users, especially those considering risk management options for the first time. Knowing what production and market factors influence the LRP decision making process is key.

This session will focus on how to teach practical application of the LRP program to clientele. Attendees will become more familiar with how LRP works as program and gain insight on how to have risk management conversations with livestock producers.

Details

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