The biggest lesson one can learn from the previous cycle is that producers do not control the daily, weekly or monthly cash price, but they do control the marketing decisions of their cattle.

In a webinar hosted by NCBA, James Mitchell, assistant professor of agricultural economics and agribusiness and extension livestock economist at the University of Arkansas, discussed how producers can use Pasture, Rangeland and Forage (PRF) Insurance as a risk management strategy for their operation.

Fewer than 80,000 head of feeder cattle were price protected in the year before the 2020 overhaul of the Livestock Risk Protection (LRP) program. This year, on an annualized basis, approximately 4.5 million head of feeder cattle LRP will be purchased.