New Bill for Livestock Producers Introduced
On August 10th, Senators Tester and Hoeven introduced the Livestock Disaster Relief Act (S. 2707). A short summary of the bill is below.
Hoeven/Tester Livestock Disaster Relief ActSummary: The Hoeven-Tester Livestock Disaster Relief Act will improve existing livestock disaster assistance programs at the U.S. Department of Agriculture. The legislation increases assistance and better aligns coverage for ranchers under the Livestock Forage Program (LFP) and Emergency Livestock Assistance Program (ELAP).
Changes to the Livestock Forage Program
- Increases coverage for monthly feed costs to 80%.
- Includes unweaned cattle in eligible livestock.
- Increases number of months a producer can receive payments.
- Improves formula used to calculate monthly feed costs.
Changes to the Emergency Livestock Assistance Program
- Specifies drought as a covered adverse weather event.
- Removes restrictions on types of covered losses and disasters.
- Specifies transportation costs for feed and water as a covered losses.
See a summary, or give feedback on the bill HERE.
Photo credit: Aeric Reilly, Ranch Ranch Beef, Farmers Union Insurance.