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2013 Risk Management Check Up

2013 Risk Management Check Up. Is YOUR 2012 Risk Management Plan Adequate to Manage 2013 Risks? (Increasing Input Costs, Prices & Weather Volatility). How Good is your Risk Management Plan ?. Protection is Available for Almost All Crops and Some Livestock Production!

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2013 Risk Management Check Up

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  1. 2013 Risk Management Check Up Is YOUR 2012 Risk Management Plan Adequate to Manage 2013 Risks? (Increasing Input Costs, Prices & Weather Volatility)

  2. How Good is your Risk Management Plan ? Protection is Available for Almost All Crops and Some Livestock Production! • Crop Insurance Protection – is available: • Individual Crop Policies – available for many crops • Producers with 3 years of production history may import policies not generally available in the area • Whole farm gross revenue protection • Non-insured crop Assistance Protection is available for almost all non-insurable crops& Other benefit programs may also be available from FSA Producers can be assured of a pay day(Production sales &/or USDA protection benefits)

  3. How Good is your Risk Management Plan ? What do you wantyour Crop Insurance Based Risk Management Plan to do For YOU when disasters occur? • Protect crop value $ ? A. • Protect input cost $ ? A. • Protection to secure operating loan (security) $? • $$ To replace livestock feed $? • $$ Buy-out preharvest sales contracts $? • Strengthen the business plan and avoid an income interruption $? IS YOUR Current Risk Mgt. Plan Adequate?

  4. AGR-Lite Gross Income Whole Farm Protection Example * 5 year avg. Adj. revenue = $100,000 * 75% coverage level = $75,000 loss trigger * Revenue produced = $30,000 * Revenue ins. loss = $45,000 * 90% payment = $40,500 loss payment * Income With Ins. = $70,500 * Income Without Ins. = $30,000 Revenue for guarantee may include intended commodities to be purchased for resale, after basis adjustment. New enrollment deadline March 15. .

  5. AGR-Lite Gross Income Whole Farm Protection Example Revenue for guarantee may include intended commodities to be purchased for resale, after basis adjustment. New enrollment deadline March 15. .

  6. Apple Policy Options

  7. “It’s a program that can help a producer survive a disaster and return to profitability!” 9

  8. Farming has always been a risky business. Crop insurance helps you level the playing field by protecting you and your family from substantial losses. Crop insurance is a wise investment for your peace of mind, and a valuable financial planning tool for your farm. Don’t have an agent? Ask a neighbor who they use, or visit www.rma.usda.gov, and use the agent/company locator tool. Call an agent today.

  9. 2013 Risk Management Check Up For more information & farm level details: Contact crop ins. agent (list: www.rma.usda.gov/tools/agent.html) Or: Steve Connelly Maryland Department of Agriculture (410)841-5824 steve.connelly@.maryland.gov “This institution is an equal opportunity provider.” (Increasing Input Costs, Prices, & Weather Volatility)

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