Payment rate updated to support livestock producers who lost cattle in extreme heat, humidity this summer
WASHINGTON, D.C.—The USDA’s Farm Service Agency (FSA) is updating the Livestock Indemnity Program (LIP) payment rate to support livestock producers in the Midwest who have lost cattle to the extreme heat and humidity experienced this summer.
To help indemnify ranchers to reflect a trend towards higher cattle weights in feedlots, the 2023 LIP payment rate for beef calves over 800 pounds will increase from $1,244 per head to $1,618, an increase of $374.