The USDA Farm Service Agency (FSA) made updates to their payment rates under the Livestock Indemnity Program (LIP). The agency changed rates for calves under 250 pounds and will now value them at the same level as non-adult cattle weighing between 250 and 399 pounds. FSA also increased payment rates for calves under 400 pounds.
The LIP payment rate is set at 75 percent of the fair market value, as payments were updated using the same price as the 251-399 pound livestock. The rate is now set at $474.38 a head for cattle weighing less than 250 pounds. The previous payment rate for calves under 250 pounds was $175.
(From the National Association of Farm Broadcasters)
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