New Livestock Indemnity Program Begins

Agriculture Secretary Tom Vilsack has announced details of a new livestock Indemnity Program which will provide livestock producers with a vital safety net to help them overcome the damaging financial impact of natural disaster. Ranchers and livestock producers can begin applying for benefits under the provisions of the Livestock Indemnity Program in the 2008 Farm Bill.

Using funds from the Agricultural Disaster Relief Trust Fund established under section 902 of the Trade Act of 1974, the program is administered by the USDA Farm Service Agency. LIP compensates livestock owners and contract growers for livestock death losses in excess of normal mortality due to adverse weather, including losses due to hurricanes, floods, blizzards, disease, wildfires, extreme heat and extreme cold. Eligible losses must have occurred on or after January 1, 2008, and before October 1, 2011.

Specific provisions for the other supplemental agricultural disaster assistance programs authorized by the 2008 Act will be implemented through separate rulemaking and announced at a later date.