May 2026 FCIC Board Meeting

We had several livestock submissions presented to the FCIC Board of Directors this week. I will write more detailed blogs soon on each change, but here is a quick summary:

  • 522(b) concept proposal for Livestock Cost Protection – Poultry, approved for full research and development.
  • New pricing model for LRP-Fed Cattle, to be implemented for RY2027 if not sooner.
  • Dynamic Price Adjustment Factors for predominantly dairy feeder cattle types, to be implemented for RY2027
  • New unborn dairy calves type, for dairy-on-dairy calves. This one will have to wait for RY2028 as the changes would affect LRP-Feeder Cattle SCE, and we are past the contract change date.
  • DRP 508(h) modification submission approved for review. This submission contains one rating change that must remain confidential for now. The second request in the submission is to align DRP target loss ratio with LRP, Weaned Calf Revenue Protection, and crop insurance programs offered under SRA, all of which are rated to 88% expected (target) loss ratio. To be clear, these changes are not yet approved for implementation, this is just the first step – the FCIC Board directed RMA to commission external expert review of proposed changes.
  • We also filed a concept proposal for Enhanced Livestock Coverage Option (ELCO), but ultimately decided to withdraw and postpone by three months, to allow additional conversations to take place in the industry and with the Administration.
  • User fees for LRP have been adjusted upward. This additional budget will allow us to grow our team. We need to build a deeper bench and redundancy for disaster planning. I am hoping to hire a junior PhD-level economist – more on that soon (contact me if you’re looking for a job).
  • I am also thankful to the Board for accepting my application to serve as an expert reviewer on 508(h) submissions. I am hoping that my experience in designing and managing three complex livestock programs can be of use to the FCIC as they evaluate actuarial soundness and marketability of new proposed products.

More details soon.

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