"Where Fillmore County News Comes First"
Wednesday, June 3rd, 2015
Volume ∞ Issue ∞
- 2:36:11, Jun 2nd 2015 - Hawkeye63 - Trying to see the point of Yvonne's letter. A law was passed regarding fri ... [Read More]
- 9:52:43, Jun 1st 2015 - SV80 - Wentworth. Doesn't seem sporting to engage someone who can't spell 3rd grade ... [Read More]
- 3:40:30, Jun 1st 2015 - email@example.com - Congratulations Girls! You all did a super job. What a wonderful ... [Read More]
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- 2:34:00, Jun 1st 2015 - doc - @ doc and sv80- why don't you two go get a room some where We can just do it ... [Read More]
- 2:12:48, Jun 1st 2015 - Kim Wentworth - @sv80- the news of the your global warming FARCE is on to some degree ... [Read More]
- 1:59:15, Jun 1st 2015 - lol - 2nd place is the first lossers. Then the girls go home and cry. Lol. Most of you ... [Read More]
- 1:55:05, Jun 1st 2015 - wow - So, you people are funny. Do u remember in history class about the glaciers that ... [Read More]
- 11:04:50, May 31st 2015 - trojan fan - Margaret Carlson, you need to read RP school board chair Linder's respo ... [Read More]
- 10:23:01, May 31st 2015 - fact check - Yes Stan's OPINION is shocking....it is also not factual. I'm certain ... [Read More]
Fri, Nov 12th, 2010
Posted in Agriculture
Posted in Agriculture
Those initials certainly didn't mean much when I first saw them; they stand for Livestock Gross Margin and Livestock Risk Protection Insurance. Livestock Gross Margin Insurance provides protection against the loss of gross margin (market value of livestock minus feed costs) for Dairy (Milk), Feeder Cattle, Fed Cattle, Swine and Lambs.
For example, LGM Dairy Cattle provides protection to dairy producers when feed costs rise or milk prices drop. Gross margin is the market value of milk minus feed costs. LGM Dairy uses futures prices for corn, soybean meal, and milk to determine the expected gross margin and the actual gross margin.
LGM for Swine, Feeder Cattle, Fed Cattle, and Lambs works similarly. In all cases, the price the producer receives at the mailbox is not used in gross margin calculations. Livestock Risk Protection Insurance is a price only insurance policy that insures against a price fall and may be considered similar to a minimum pricing contract.
If you would like to learn more about LGM/LRP there will be a workshop on Friday, December 3, Room 108, Fillmore County Office Building, 902 Houston Street, Preston. Our presenter is Wendy S. Amundson, agri-business sales representative, Wells Fargo Insurance, Inc.
We will begin with the Beef and Swine LGM/LRP session at 9:30 until 11:30. At that time, participants can either leave for lunch or we can order sandwiches on a Dutch treat basis.
At 12:30 until 2:30 we have our session on Dairy LGM/LRP. Participants can come for both sessions or either one. There is no fee to attend this workshop.
For more information prior to the workshop, go on-line to http://www.rma.usda.gov/pubs/rme/fctsht.html.
For the Risk Management Agency's list of livestock price insurance providers in Minnesota, go to http://www3.rma.usda.gov/tools/agents/companies/2010/minnesotaLPI.cfm.
Space is limited. Please RSVP by Wednesday, December 1, by contacting one of the following: Dan B. Miller at firstname.lastname@example.org, Wayne Pike at email@example.com
Jack LaValla at firstname.lastname@example.org, or Jerrold Tesmer at email@example.com or call 507-765-3896.
The program is sponsored by Riverland Community College Farm Business Management, the University of Minnesota Extension, and Wells Fargo Insurance, Inc. "This will give you another tool in your marketing toolbox. It fits in with any size livestock operation. Many producers shy away from contracting because of the size of the contracts. These products have no upper or lower limits so can benefit almost everyone who is interested."