Livestock Price Insurance (LPI) for Calf sales opened February 1.
This easy-to-use risk management program is offered in the spring and covers the price risk cow-calf producers face when selling calves in the market. Producers can tailor coverage to their operation by purchasing price insurance for anticipated calf sales.
This market-driven program uses several factors to forecast future calf prices. During the policy purchasing period, the coverage offered is calculated three days a week using market data from each given day. Policies are available for purchase Tuesday, Wednesday and Thursday from 2 to 11 p.m. MT.
Calf policies are available for purchase until June 9, 2022 with expiry dates into February 2023.
Making it easier
LPI has added several new features and resources to its website.
Understanding Premiums & Settlements: This new section explains the ins and outs of the premium tables and settlements. Look here for information on how to read a premium table and when to access your claim window.
Need Help? A number of new resources were added to the site, including: How to Create an online LPI Account, How to Purchase an LPI Policy online, and How to Claim on an LPI Policy online.
LPI Workpad: This useful tool aids producers when making purchasing decisions. The workpad provides producers with the option to calculate up to three example purchases prior to making any purchasing decisions. It clearly communicates policy details for best decision-making practices. This is a great place to start if this is your first time purchasing or it has been a while since you participated in the program.
Producers can purchase Livestock Price Insurance every Tuesday, Wednesday or Thursday from 2 to 11 p.m. MT. Claims can be made on Mondays between 2 and 11 p.m. MT. If you require assistance, please contact your provincial LPI office.