Agricultural and Food Policy
 Agri Outlook Radio
Number 192
Policy: Part 6 of 8 - Basic Provisions of the Livestock Indemnity Program (LIP) (1:29 minutes)
Audio/Video Script:
Robert Coats, Ph.D.
Extension Economist and Professor
University of Arkansas, Division of Agriculture
One of the 2008 Farm Bill’s Five New Supplemental Agricultural Disaster
Assistance Programs is the Livestock Indemnity Program (LIP).
Basic provisions of the Livestock Indemnity Program (LIP) are as follows:
The Livestock Indemnity Program (LIP) will be available to eligible livestock
producers on farms that have incurred livestock death losses in excess of normal
mortality because of adverse weather, as determined by the Secretary during the calendar year, including losses because of hurricanes,
floods, blizzards, disease, wildfires, extreme heat, and extreme cold.
On payments, the Livestock Indemnity Program (LIP) payments to eligible
livestock producers will be based on:
- 75 percent of a fair market value, as determined by USDA’s Secretary of
Agriculture, for each specific livestock category, and
- Individual producers’ eligible losses.
No State, county, or other trigger will be used to define an eligible
Livestock Indemnity Program area.
This has been Robert Coats Extension Economist University of Arkansas
Division of Agriculture.
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