Pasture, Rangeland and Forage Rainfall Index Insurance: An Insurance Product for Illinois Livestock and Forage Producers

Brittney Goodrich

farmdoc daily, 2025, vol. 14, issue 184

Abstract: The Pasture, Rangeland and Forage Rainfall Index (PRF-RI) is a crop insurance product underutilized by Illinois livestock and forage producers. Only 6% of the eligible acres in Illinois were insured in 2024, much lower than use west of the Mississippi. Like other Federal crop insurance programs, PRF-RI is heavily subsidized. Over time, PRF-RI has returned $1.29 in payments for each $1.00 in producer-paid premium. Illinois and Midwest livestock and forage producers should consider using PRF-RI as a risk management tool.

Keywords: Agribusiness; Livestock Economics; Premiums and Payouts (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:ags:illufd:358422

DOI: 10.22004/ag.econ.358422

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