The USDA Livestock Indemnity Program (LIP) provides benefits to livestock producers for livestock deaths in excess of normal mortality caused by adverse weather.
Texas farmers and ranchers impacted recently by winter storm Goliath must file a claim with LIP within 30 calendar days of when the loss of livestock is apparent to the producer.
“Unfortunately, this storm was so severe and out of the ordinary that farmers and ranchers in that part of the world have experienced losses that are far greater than what the indemnity program will be able to help them cover,” said Tracy Tomascik, Texas Farm Bureau associate director of Commodity and Regulatory Activities.
Tomascik told the Texas Farm Bureau (TFB) Radio Network that the maximum cap on the LIP is $125,000 per individual per year. LIP payments are equal to 75 percent of the market value of the applicable livestock on the day before the date of death of the livestock, as determined by the U.S. Secretary of Agriculture.
“There’s some discussion going on about contacting the state and federal government officials and agencies that are in charge of these indemnity programs to see if there is the opportunity for an exception to these rules and maybe even increasing that maximum cap level,” Tomascik said.
For more information about LIP, contact your local FSA office or USDA Service Center, or visit FSA online at www.fsa.usda.gov.