USDA Boosts Compensation for Bison Losses in Livestock Indemnity Program
No Word Yet on Request for Adjustment on 2017 Rates
The U.S. Department of Agriculture’s Farm Service Agency has responded to a request filed by the National Bison Association by implementing a revised compensation level for 2018 bison claims filed under the Livestock Indemnity Program (LIP), with some rates more than double the previous levels.
The National Bison Association praised the FSA’s action to adjust the 2018 rates but repeated its request to have the rates adjusted for claims filed in 2017 as well.
We are extremely pleased that the Farm Service Agency looked at the market information and promptly adjusted the rates for bison producers. More importantly, they have developed a model that will allow for market-based adjustments in the years ahead. Now, we hope that they make the adjustments needed to provide compensation for producers suffering losses in 2017. — Dave Carter, executive director of the National Bison Association
USDA’s LIP provides benefits to livestock producers for livestock deaths in certain conditions, including eligible adverse weather, wildfires, eligible disease and eligible predator attacks. LIP payments are supposed to equal to 75 percent of the market value of the applicable livestock on the day before the date of death of the livestock. However, the LIP published compensation rates for bison in recent years have averaged less than 30 percent of the market value of the animals. FSA agreed to re-examine its bison compensation rates last fall after the National Bison Association provided the agency with detailed information regarding current market rates.
Under the new table published for 2018, compensation rates for bison calves less than 400 lbs. are increased to $1,223.84, from the previous level of $447.67. Yearling bison compensation rates were moved to $1,975.46 from the previous level of $951.06. And, mature cows losses are now compensated at the rate of $1,790.61, compared to $914.34 last year.
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