New Farm Bill provides permanent livestock assistance programs
The 2014 Farm Bill, formally known as the Agricultural Act of 2014, makes the Livestock Forage Program (LFP) and Livestock Indemnity Program (LIP) permanent programs and provides retroactive authority to cover eligible losses back to Oct. 1, 2011.
LFP provides compensation to eligible livestock producers who have suffered grazing losses due to drought or fire. LFP payments for drought are equal to 60 percent of the monthly feed cost. The grazing losses must have occurred on or after Oct. 1, 2011. Sign-up will begin on or before April 15, 2014, at any local Farm Service Agency (FSA) service center.
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