40 Nebraska Cattleman November 2023 is available on their website and is designed to help you navigate these decisions. Experienced insurance agents can help you determine which route is best for your individual operation. “A trigger index is reached when the final grid index is less than the result of multiplying the expected grid index by your selected coverage level,” Nagle explains. “You will receive an indemnity payment only when the final grid index is less than the trigger grid index.” Jim Jansen is a Nebraska producer in his third year of using PRF on their grazing and hay ground. He says the program appealed to him because it addressed the biggest risk to their operation for where they are located – lack of rainfall. “PRF insurance provides some degree of protection to help offset a portion of the burden placed on an operation when faced by a shortfall in rainfall. It also carries a subsidy to help offset a portion of the cost affiliated with the program,” Jansen explains. “It will help offset the devastating effects that drought can have on an individual, and if you stay with it through thick and thin, in regard to collecting on the indemnity made with the program, in the long haul a producer can come out ahead if they stick with it.” How to Get Started You can start by looking at the USDA RMA website where you will find an overview of the program, as well as the indexes and tools to help you decide how this program can help you. Nebraska Cattlemen has collaborated with FNIC to create Nebraska Cattlemen Insurance Group (NCIG) which is another benefit to being a Nebraska Cattlemen member. You can find more information on the NC website or contact (402) 861-7000 to be put in contact with a representative in your area. The deadline for 2024 PRF coverage is Dec. 1, 2023. NC HEDGING BETS • CONTINUED FROM PAGE 38 "If producers are going to use PRF as a tool on the operation, that should be a strategic decision, meaning it's something that they should do every year." – Jay Parsons ACCOUNTING • CONSULTING • FINANCIAL • M&A • TALENT • TECH LEARN MORE TODAY BY VISITING WWW.LUTZ.US LUTZ IS PROUD TO SUPPORT NEBRASKA CATTLEMEN! NC Trade Show Exhibitor DECEMBER 5-7, 2023 LANCASTER EVENT CENTER LINCOLN, NE WHERE AGRICULTURE MEETS INNOVATION. GET YOUR TICKETS ONLINE AT NEBRASKAAGEXPO.COM TO SAVE $5! www.nebraskaagexpo.com NEBRASKA AG EXPO
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