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Probability Of Receiving An Indemnity Payment From Feeder Cattle Livestock Risk Protection Insurance

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  • MERRITT, MEAGAN G.
  • GRIFFITH, ANDREW P.
  • BOYER, CHRISTOPHER N.
  • LEWIS, KAREN E.

Abstract

Livestock risk protection (LRP) insurance is a price risk management tool available to cattle producers; however, producers have been hesitant to adopt LRP. The objective of the study was to determine the monthly feeder cattle LRP contract coverage level and length maximizing the probability of the LRP net price being greater than the CME Feeder Cattle Index (CME FCI) price. The CME FCI prices were higher than the LRP net price for the majority of the contract lengths and coverage levels. Several coverage lengths and levels provided similar price protection, and there was no consistent preferred coverage length and level.

Suggested Citation

  • Merritt, Meagan G. & Griffith, Andrew P. & Boyer, Christopher N. & Lewis, Karen E., 2017. "Probability Of Receiving An Indemnity Payment From Feeder Cattle Livestock Risk Protection Insurance," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 49(3), pages 363-381, August.
    • Handle: RePEc:cup:jagaec:v:49:y:2017:i:03:p:363-381_00
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    Cited by:

    1. Haviland, Logan B. & Feuz, Ryan, 2022. "Livestock Risk Protection: Selecting Optimal Coverage Contracts for Producers," Western Economics Forum, Western Agricultural Economics Association, vol. 20(2), December.
    2. Unknown, 2022. "Western Economics Forum: A Journal of the Western Agricultural Economics Association, v.20, Issue 2, Fall 2022," Western Economics Forum, Western Agricultural Economics Association, vol. 20(2), December.
    3. Griffith, Andrew P. & Boyer, Christopher N., 2022. "Implications of Livestock Risk Protection Subsidy Rate Changes for Feeder Cattle," Extension Reports 321273, University of Tennessee, Department of Agricultural and Resource Economics.
    4. Boyer, Christopher N. & Park, Eunchun & Griffith, Andrew P. & DeLong, Karen L. & Martinez, Charles, 2023. "Impact of Subsidy on Livestock Risk Protection for Fed and Feeder Cattle," 2023 Annual Meeting, July 23-25, Washington D.C. 335429, Agricultural and Applied Economics Association.
    5. Griffith, Andrew P. & Boyer, Christopher N. & Kane, Ian, 2022. "Literature Review: Price Risk Management Contributions to Economic Sustainability in the Cattle Industry," Extension Reports 322767, University of Tennessee, Department of Agricultural and Resource Economics.

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