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Livestock Gross Margin

Livestock Gross Margin (LGM) can help protect your livestock operation against potential revenue loss caused by declining prices and increasing feed costs. It provides insurance coverage against the loss of gross margin for cattle, swine and dairy cattle.

Features of Livestock Gross Margin include:

  • Livestock Protection – You can choose to insure your livestock:
    • Cattle – Up to 5,000 head during any 11-month insurance period and up to 10,000 head per insurance year.
    • Swine – Up to 15,000 head during any six- month insurance period and up to 30,000 head per insurance year.
    • Dairy Cattle – Up to 240,000 hundredweight of milk during any 11-month insurance period or insurance year.

  • Insurance Periods – There are 12 insurance periods in a calendar year.

  • Price Risk Protection – A six-month period for swine and an 11-month period for cattle and dairy cattle. For example, if coverage is obtained on January 31 through December 31, there is no coverage in the first month (February).

  • Sales Period – For swine, cattle and dairy cattle, the sales period is the last business Friday of each month until 8:00 p.m. (CST) the following evening.

  • Price Guarantees – Actual and expected price guarantees for cattle, swine, milk, corn, and soybean meal are determined by the Chicago Mercantile Exchange (CME).

  • Loss Payment – You receive a loss payment if there is a difference between the actual gross margin and the gross margin guarantee. The loss must be caused by an unavoidable cause of loss. LGM does not insure against death or other loss, or destruction of cattle or swine.

  • Deductible Available – You can select:
    • Cattle – $0 to $150 per head in $10 increments.
    • Swine – $0 to $20 per head in $2 increments.
    • Dairy Cattle – $0 to $2.00 per hundredweight in $ .10 increments.

To learn more about the affordable crop insurance programs available through AgMax or to find a crop insurance agent in your area, contact us at 1-800-370-3357 or via e-mail at cropinsurance@agmaxinsurance.com.

Crop, crop hail and livestock insurance coverage is underwritten by Western Agricultural Insurance Company (WAIC), West Des Moines, IA. WAIC is not licensed in all states and not all products are available in all states. WAIC is an equal opportunity provider. These policies are available to all producers regardless of race, color, national origin, gender, religion, age, disability, political beliefs, sexual orientation and marital family status.

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