USDA has announced sign-up dates for the new Livestock Compensation Program (LCP), Livestock Indemnity Program (LIP), and Crop Disaster Program (CDP). These programs are to provide benefits to producers who suffered losses caused by natural disasters in recent years.
- Under LCP and LIP, eligible livestock producers can apply to receive benefits beginning Sept. 10. LCP compensates livestock producers for feed losses occurring between Jan. 1, 2005 and Feb. 28, 2007, due to a natural disaster. LIP compensates livestock producers for livestock losses between Jan. 1, 2005 and Feb. 28, 2007 that resulted from natural disasters, including losses due to blizzards that started in 2006 and continued into January 2007.
- Under CDP, eligible producers can sign up beginning Oct. 15, if they suffered quantity losses to their crops; CDP signup for quality losses will be announced later by USDA. CDP provides benefits to producers who suffered “quantity and quality losses to 2005, 2006 or 2007 crops from natural disasters if the crop was planted before Feb. 28, 2007, or in the case of prevented plantings, for crops that would have been planted before Feb. 28, 2007.”
Find more info on these programs at http://www.fsa.usda.gov; click on Disaster Assistance Programs.