Driving in North Dakota comes with its own set of risks-icy highways on I-94, rural roads where deer crossings are common, and hailstorms that can leave vehicles badly damaged. At Bowerman Insurance Agency, we provide auto insurance in Steele, ND and Bismarck that keeps you protected on every trip. As an independent insurance agency, we shop multiple carriers to find the right balance of coverage and cost for your needs.
Livestock Risk Protection (LRP) Insurance
Protect Cattle Prices with Livestock Risk Protection Insurance
Livestock Risk Protection (LRP) is a crop insurance product designed to insure against a decline in market prices. . LRP lets you lock in a minimum price for your feeder or fed cattle sales-so if the market falls, you're covered, but if prices rise, you still capture the upside. It's risk management for price, not for animal health or mortality.
If you currently use or have used Put Options, this is a less expensive, much easier way to lock in a floor price on your cattle. Call and ask us how simple it is for you to take advantage of this product.
There is a variety of coverage levels and insurance periods that are available for you to purchase, to best match up with when you normally market your feeder cattle.
LPR is available to buy anytime throughout the year from our Agency. Premium rates, coverage prices, and actual ending values are updated daily.
Simple Price Risk Insurance
Set a Price Floor
You choose the coverage price (level), coverage period (end date), and number/class of livestock to insure.
Choose Coverage That Fits Your Sale Plans
Pick coverage to match your marketing window-aligned with when you expect to sell or deliver your cattle.
Payment Trigger
If the national cash price at the coverage end date is below your insured price, LRP pays the difference for your covered head.
No Complicated Contracts
No need for commodity accounts or margin calls-just agent-guided setup, paperwork, and policy management.
Coverage That Matches Your Cattle Marketing Calendar
Feeder Cattle Sales
Set price protection for calves or feeders headed to auction or private sale.
Volatile Markets
Use LRP during high market uncertainty or before major sale periods.
Flexible Coverage
LRP is available year-round; you can insure small or large groups as needed, as long as you enroll before ownership or marketing deadlines.
Bowerman Insurance helps you align LRP policies with your actual sale dates and marketing plan.
Key LRP Decisions & Payment Triggers
Coverage Level (Insured Price)
You choose the coverage price (level), coverage period (end date), and number/class of livestock to insure.
End Date
Matches your planned sale/delivery.
Class/Type
Feeder cattle, fed cattle, swine, lambs, etc.
Head Count
Number of livestock to cover.
Payment: If the actual ending value (as reported by USDA) is below your insured price at expiration, you receive the difference per head. If prices stay high, you simply sell at market.
You may choose coverage prices ranging from 70 to 100% of the expected ending value. At the end of the endorsement 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 the actual ending value.
The actual ending values are based on weighted prices, from the Chicago Mercantile Exchange Group Feeder Cattle Index. Actual ending values are posted on RMA’s website at the end of the insurance period.
To purchase LRP Feeder Cattle Coverage you will need to submit a one-time application. After the application is accepted, you can buy specific coverage endorsements throughout the year for up to 3,000 head of Feeder Cattle that are expected to weigh up to 900 pounds at the of the insurance period. The annual limit for LRP Feeder Cattle is 6,000 head per producer, per year (July 1 to June 30).
Coverage lengths available for each specific coverage endorsement are: 13, 17, 21, 26, 30, 34, 39, 43, 47, or 52 weeks.
Coverage is available for: Calves, Steers, Heifers, Predominantly Brahman Cattle, and Predominantly dairy cattle.
Two weight ranges are available: under 600 pounds and 600-900 pounds.
LRP Feeder Cattle insurance is available in all counties in all states.
Premium can now be paid at the end of the endorsement period.
LRP-FEEDER CATTLE IS A FEDERALLY SUBSIDIZED PRODUCT. CURRENT SUBSIDY LEVELS ARE:
| Coverage Level | Subsidy |
|---|---|
| 95-100% | 35% |
| 90-94.99% | 40% |
| 85-89.99% | 45% |
| 80-84.99% | 50% |
| 70-79.99% | 55% |
See a sample quote.
If you are interested in a free personalized quote please contact our office.
Your Questions, Answered
What livestock are eligible?
Coverage is available for feeder cattle, fed cattle, swine, and lambs.
Does my cash sale price matter?
Indemnity is based on the national index, not your individual sale.
How much can I cover?
Coverage levels vary by day; we'll show available price floors.
Can I pair LRP with PRF?
Yes-many ranchers use both drought and price tools together.
Price Protection
Bowerman Insurance can explain the options, help you pick the coverage to fit your marketing plan, and answer your questions, so you can focus on running your operation.
Crop insurance changes all the time and can be very complicated, we stay on top of the technology we have access to and provide the best possible coverage for the risks farmers' face on a daily basis!