New Insurance Shields Weaned Calves From Market Storms

By Scout Nelson

South Dakota's cattle producers have a new line of defense against the uncertainties of farming. The SDSU Extension is spotlighting a novel insurance product designed to safeguard against the ups and downs of calf rearing. This product, stemming from the USDA-Risk Management Agency, is currently in pilot mode in select states, including South Dakota.

The new Weaned Calf Risk Protection Insurance is akin to crop insurance, providing a safety net for cow-calf producers by covering losses from calf mortality, market price dips, and other financial risks, while offering a harvest price option. Its structure is straightforward, taking cues from traditional crop insurance to ensure ease of understanding and adoption.

Heather Gessner of the SDSU Extension emphasizes the user-friendly nature of this insurance, despite some initial complexities. As the sign-up deadline looms on January 31, 2024, producers are urged to connect with crop insurance agents for insights into this protective measure.

An upcoming webinar via the Ag Economic Dialogues series is slated for 10 a.m. CST on November 17, 2023, promising to be an informative session for ranchers seeking to learn more about this product. Registration is open through the SDSU Extension Events page, providing a step-by-step guide for those interested.

The monthly series explores financial topics affecting the agricultural community, providing farmers with knowledge to tackle economic challenges. Registration information can be found on the SDSU Extension website's events section under "Dialogues - November."

Photo Credit: gettyimages-diane-kuhl