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Livestock Risk Protection (LRP) to cost less

first_imgShare Facebook Twitter Google + LinkedIn Pinterest By Matthew Diersen, Risk and Business Management Specialist, Ness School of Management & Economics, South Dakota State UniversityFeeder cattle have been under seasonal price pressure, similar to last year. Thus, locking in cattle prices or spending money for insurance may not be a high priority at this time. However, it is never a bad time to plan nor to look for cost-effective ways to manage risk. Livestock Risk Protection (LRP), price coverage sold by insurance agents, is similar to the purchase of put options on cattle futures contracts. LRP is administered by the Risk Management Agency (RMA) with a federally-subsidized premium that is set to increase soon.Interest in and usage of LRP has fluctuated since first being offered in the early 2000s. Nationally, coverage with the feeder cattle endorsement peaked at over 300,000 head in crop year 2014. Such a total was still less than 1% of the U.S. calf crop. Coverage for the most recent crop year, which ends on June 30, is unlikely to exceed 90,000 head. Demand for the product has fallen with lower prices. Demand in South Dakota remains relatively high at over 27,000 head covered in crop year 2019, but the absolute level covered remains low. Locally, producers and insurance agents seem pleased with how LRP works. Some producers have expressed disappointment after finding out buying LRP is very similar to buying put options. Coverage with the fed cattle endorsement has been small regardless of location or crop year.In April, the RMA announced several changes to LRP, effective on July 1 with the 2020 crop year. The premium subsidy is the most relevant change. Until now, the subsidy has been small and LRP premiums have been very close to the cost of put option coverage with a brokerage fee. Thus, on a per cwt basis producers would have been indifferent between using LRP and put options. The subsidy is increasing to 20 to 35%, depending on the coverage level. An additional subsidy applies for beginning farmers and veteran farmers. The subsidy applies to the full cost of the coverage, but remains low compared to the subsidy on most crops. The highest subsidy rate applies to the lowest level of coverage, 70 to 79% of the base price. At this large deductible level the premium cost is already very low, so an increased subsidy is not likely to look more attractive. The 20% subsidy applies to the 95 to 100% coverage level. Based on recently available premiums, the higher subsidy will only reduce costs by 30 to 60 cents per cwt.The main advantage of LRP will likely continue to be the ability to buy coverage on a per head basis. When using a standard futures or options contract, the size is fixed at 50,000 pounds for feeder cattle. Thus, a producer would need groups of 100 calves weighing 500 pounds to effectively use such contracts. With LRP, the same per cwt option cost is the base, but then it is applied per head, effectively reducing the cost when less than 100 head increments are covered. Smaller producers, producers selling steers and heifers at different times, producers backgrounding a portion of their calves and those only owning a share of a calf crop may have relatively small groups of calves to sell and thus insure. A higher subsidy makes the cost advantage of LRP even better in such situations.last_img read more

FCC Passes Net Neutrality, Everyone Delighted

first_imgTags:#Features#Government#NYT#web A Web Developer’s New Best Friend is the AI Wai… Top Reasons to Go With Managed WordPress Hosting 1) Transparency. Consumers and innovators have a right to know the basic performance characteristics of their Internet access and how their network is being managed.2) No Blocking. A right to send and receive lawful traffic. This prohibits blocking of lawful content, apps, services, and the connection of non-harmful devices to the network3) Level Playing Field. A right to a level playing field. A ban on unreasonable discrimination. No approval for so-called “pay for priority” arrangements involving fast lanes for some companies but not others.4) Network Management. An allowance for broadband providers to engage in reasonable network management. These rules don’t forbid providers from offering subscribers tiers of service or charging based on bandwidth consumed.5) Mobile. Broadly applicable rules requiring transparency for mobile broadband providers, and prohibiting them from blocking websites and certain competitive applications.6) Vigilance. Creation of an Open Internet Advisory Committee to assist the Commission in monitoring the state of Internet openness and the effects of our rules.Politico notes the new rules ensure that “[t]raditional wired broadband providers may not unreasonably discriminate against any lawful traffic, though no such rule will be put in place for wireless providers.” On the one hand, those who believe companies have a right to govern how they offer their products to consumers may find this freedom to have been abridged by a government too eager to make new rules. On the other hand are those who see the two-tiered pricing structure as a de facto way to block unwanted traffic by increasing the efficiency of its competitors or simply by making it so slow in relationship to “premium” traffic that it cannot stay in business. Both the concept of unreasonableness and the wireless exception may be seen by some as loopholes big enough to drive a truck through. In April a lower court put aside an FCC ruling based on an “informal” attempt to promote net neutrality. It was hoped by FCC Chairman Julius Genachowski (and the Democratic commissioners who voted with him) that this would be a light touch, net neutral for the most part and enforceable. Regardless, it seems unlikely that a minute will pass after the first FCC action on this order before either the access or the content people file their first motions. Read more ReadWriteWeb coverage of net neutrality. Why Tech Companies Need Simpler Terms of Servic… Related Posts 8 Best WordPress Hosting Solutions on the Market If, as some say, a deal can only be called successful when everyone involved leaves the table unsatisfied, then the net neutrality rules approved at a meeting this morning by the Federal Communications Commission may be a success. Under the rules, two years in the making, no provider may block another company’s traffic, however, it may offer “faster” access to companies willing to pay more. Here are the “six key principles” powering the order. curt hopkinslast_img read more

Kashmir to seek Bollywood help to shed negative image

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10 months agoChelsea boss Sarri slams VAR: Kane was offside

first_imgAbout the authorPaul VegasShare the loveHave your say Chelsea boss Sarri slams VAR: Kane was offsideby Paul Vegas10 months agoSend to a friendShare the loveChelsea boss Maurizio Sarri slammed VAR after losing the first-leg of their Carabao Cup semi to Tottenham.A Harry Kane penalty in the first-half – which was awarded via VAR – earned Spurs the 1-0 win.Sarri snapped, “A few minutes ago I watched the video from our camera. It was offside. Our camera was in line with Harry Kane.”Offside with the head, the knee. Offside. It was really important the linesman carried on running, he had a big impact on our defenders.”I don’t think English referees are able to use the system.”If you are not sure with the system, you have to follow the ball and at the end of the action decide. But he stopped it and didn’t follow the ball – for our defenders it was offside. I don’t know about the goalkeeper but sure the defenders.”I think they have to study the system.”It’s very strange in the Premier League there isn’t VAR and in Carabao Cup there is the system. It’s very strange for us, the players and referees.” last_img read more

Alberta First Nation to ban members if charged with violent crime

first_imgAPTN National NewsThe Paul First Nation chief and council have seen enough.They say crime has become so rampant they have no choice but to draft a bylaw that will see members evicted from the community if charged with a violent crime.Not convicted, charged.APTN’s Chris Stewart has more details.last_img

Trans Mountain pipeline wont cause tension with Notley at meeting Horgan

first_imgLANGFORD, B.C. – The premiers of British Columbia and Alberta will join their counterparts from Western Canada and the North at meetings next week in Yellowknife, but John Horgan doesn’t expect any drama over the Trans Mountain pipeline expansion project.Horgan acknowledges he and Alberta’s Rachel Notley have differences on the pipeline, but he said Friday they are in agreement on a number of other matters and have been friends for 20 years.The ongoing tensions over the Trans Mountain project should not spill over into the expected major focus of the gathering, which is the development of a national pharmacare program, Horgan said. The provinces have always led the way on cost savings for prescription drugs and B.C. wants to be at the forefront of the issue, he added.“The federal government now wants to talk about a national program,” Horgan said. “We’re excited about that, but we don’t want to be pushed aside after all the work we’ve done here in B.C. at the provincial level and to have the federal government come in and tell us where and how and what we should be doing.”He said B.C. wants to ensure the provinces continue to play a leading role in the development of pharmacare.Horgan said he and Notley only disagree on the Trans Mountain project, otherwise their views “are lockstep.”On Thursday, B.C. announced plans to launch a lawsuit over new Alberta legislation that could restrict fuel exports to the West Coast.B.C. Attorney General David Eby said his province will ask the Court of Queen’s Bench in Alberta to declare the legislation unconstitutional on the grounds that one province cannot punish another.Notley said Thursday that Alberta is confident it has the authority to control the export of its own resources and she believes the new law will withstand a legal challenge, adding her province must safeguard its interests.Plans to triple capacity along Kinder Morgan’s existing Trans Mountain pipeline from Edmonton to Burnaby have pitted Alberta and the federal government against B.C.’s government, which says it fears the impact a spill would have on the province’s environment and economy.“I believe, largely, the issue is around transporting diluted bitumen, whether it is by rail or by pipeline,” said Horgan. “I believe the risk of a diluted bitumen spill to our environment, to our economy, is too great. I’ve made that abundantly clear. I don’t think there’ll be any surprises next week.”B.C. filed a reference case in the province’s Court of Appeal last month to determine if it has jurisdiction to regulate heavy oil shipments. It also joined two other lawsuits launched by Indigenous groups opposed to the $7.4-billion project.Kinder Morgan has ceased all non-essential spending on the project until it receives assurances it can proceed without delays, setting a May 31 deadline on getting those guarantees.Finance Minister Bill Morneau said Wednesday the federal government is prepared to offer an “indemnity” to help ease the political risks for any investors to ensure the pipeline expansion can proceed.(Companies in this story: TSX:KML)last_img read more

US stocks edge higher after huge swings in recent trading

first_imgNEW YORK — U.S. stocks are edging higher in early trading on Wall Street Monday after enormous swings the previous two days.Representatives from the U.S. and China began a round of trade negotiations, and investors’ hopes that the two sides will finally make progress in talks have sent stocks higher recently. But investors remain fearful that the trade dispute is far from a resolution.Retailers made some of the largest gains Monday while utility companies fell. U.S. stocks soared more than 3 per cent Friday as investors reacted to the upcoming trade talks as well report showing strong hiring by U.S. employers in December.Investors also responded positively to comments from Federal Reserve Chairman Jerome Powell. The jump wiped out a large loss from the day before.KEEPING SCORE: The S&P 500 index added 13 point, or 0.5 per cent, to 2,544 as of 10:15 a.m. Eastern time. The Dow Jones Industrial Average edged up 32 points, or 0.2 per cent, to 23,480. The Nasdaq composite gained 54 points, or 0.8 per cent, to 6,794. The Russell 2000 index rose 10 points, or 0.8 per cent, to 1,391.Any progress on ending a dispute that has resulted in both sides imposing tariffs on billions of dollars’ of each other’s exports would be welcomed in the markets. The South China Morning Post, citing a person familiar with the matter, reported that Trump plans to meet Chinese Vice-President Wang Qishan on the sidelines of the World Economic Forum in Switzerland, held on Jan. 22 to 25. Last month, Trump and Chinese leader Xi Jinping met and agreed to hold off on further tariffs for 90 days.SHAKING THE TREE: Discount retailer Dollar Tree rose after activist investment firm Starboard value disclosed a stake in Dollar Tree and pushed it to consider changes, including selling the Family Dollar business it bought in 2015. Starboard says Family Dollar’s struggles are hurting the company’s stock price and that Dollar Tree should consider raising prices on some items. It nominated seven candidates for seats on Dollar Tree’s board of directors.The stock climbed 4.1 per cent to $96.67. Elsewhere, Amazon rose 1.3 per cent to $1,596 and Home Depot picked up 1.2 per cent to $175.73. Automakers also rose, with General Motors up 2.6 per cent to $34.18 and Ford gaining 1.1 per cent to $8.17.POWER FAILURE: The parent company of Pacific Gas & Electric sank after Reuters reported that the company might file for bankruptcy protection as it faces potentially huge liabilities connected to deadly wildfires in California. The cause of the Camp wildfire hasn’t been determined, but PG&E reported an outage around the time and place it begin. The fire killed at least 86 people and destroyed 15,000 homes. PG&E also faces lawsuits related to wildfires in 2017.The company’s stock dropped 20.5 per cent to $19.41. PG&E stock traded at almost $70 a share in October 2017 and was valued at about $48 in November 2018.LILLY AND LOXO: Eli Lilly will buy Loxo Oncology for about $8 billion as it bulks up on cancer treatments that target gene abnormalities. Lilly is known for insulins including Humalog, but has emphasized cancer drugs over the past several years, and one of its top-selling products is the cancer treatment Alimta.That makes the second big pharmaceutical acquisition announced in the new year. On Thursday Bristol-Myers Squibb agreed to buy Celgene for $74 billion in cash and stock, one of the largest drug industry acquisitions of all time. Loxo soared 66.3 per cent to $232.63 and Eli Lilly dipped 1.2 per cent to $113.30.POLITICAL RISKS: The partial shutdown of the U.S. government stretched into its third week and there were few signs of progress in staff-level talks over the weekend. That means many hundreds of thousands of federal workers aren’t getting their paychecks, which could slow the economy.Meanwhile British legislators will vote next week on proposed terms for Britain’s departure from the European Union. The government of Prime Minister Theresa May agreed to a deal with European Union leaders in November, but a Parliamentary vote on the package was cancelled because it was clear it would be rejected. It’s not clear if May will be able to get the proposal through Parliament next week. That raises the possibility that the U.K. will leave the European Union without any kind of economic deal, which could have severe effects on the British and European economies.ENERGY: Oil prices continued their recent rally. U.S. crude rose 2.9 per cent to $49.33 per barrel in New York. Brent crude, used to price international oils, was up 1.9 per cent to $48.17 per barrel in London.BONDS: Bond prices edged lower. The yield on the 10-year Treasury note rose to 2.66 per cent from 2.65 per cent.CURRENCIES: The dollar fell to 108.37 yen from 108.51 yen. The euro rose to $1.1465 from $1.1400. the British pound rose to $1.2780 from $1.2740.OVERSEAS: Germany’s DAX shed 0.8 per cent and the FTSE 100 in Britain fell 0.6 per cent. The CAC 40 in France was also 0.6 per cent lower.Japan’s Nikkei 225 index gained 2.4 per cent, while South Korea’s Kospi rose 1.3 per cent. Hong Kong’s Hang Seng climbed 0.8 per cent.____Associated Press Writer Annabelle Liang contributed from SingaporeMarley Jay, The Associated Presslast_img read more

Farooq terms NDA govts attack on Pak and Ram Mandir issue as

first_imgKadapa (Andhra Pradesh): Former Jammu and Kashmir chief minister and NC leader Farooq Abdullah said the country should maintain good relations with its neighbouring country (Pakistan). With this approach both the countries will prosper.The National Conference leader said it was not fair on the central government to attack on neighbouring country and assuring construction of Ram Mandir keeping in view the coming elections. Addressing an election campaign here on Tuesday along with Telugu Desam Party supremo N Chandrababu Naidu, the J&K MP said India is a place of ‘unity in diversity’, and added that the present India was not the India, which he witnessed during Gandhi regime. People were living with fear complex. Also Read – Uddhav bats for ‘Sena CM’Referring to YSR Congress president YS Jaganmohan Reddy, Farooq Abdullah said Jagan met him in the past and ready to offer Rs 1500 crore to Congress high command if he was made Chief Minister of combined Andhra Pradesh. He said he wondered from where he got so much amount of money. The money belonged to people. He said if people elected such a person the state would witness drastic conditions. Addressing a road show Chief Minister N Chandrababu Naidu said there was no protection for Muslims during Modi regime. He said voting for Jaganmohan Reddy meant voting for Narendra Modi. He expressed surprise how Jagan was supporting KCR, who was opposing Polavaram project and releasing water to Rayalaseema region. He said he would make efforts to supply water to Rayalaseema region. The TDP supremo assured to implement minority sub plan for the benefit of Muslims. He said all the national parties excluding BJP supporting Telugu Desam party. He said that Sonia Gandhi also assured to accord special category status to AP.last_img read more

Bluecollar Buckeyes shirk being cool to advance to the Elite 8

BOSTON –  “(Ohio State) has two types of basketball teams,” Jared Sullinger said after OSU’s 81-66 victory against Cincinnati. “We’ve got the cool guys and we’ve got the blue-collar guys.” Never was that more apparent than Thursday when the Buckeyes blew a double-digit second half lead only to regroup on their way to victory and a trip to the Elite 8. Coming out of the locker room for the second half, OSU held a 12-point lead and everything was going to plan. Sophomore forwards Sullinger and Deshaun Thomas combined for 30 out of OSU’s 37 points and the Buckeyes seemed to have the game in control. But when the second half started, Sullinger said the cool guys showed up. “To start the second half, we got into the cool guy mode and we kind of let our guard down,” Sullinger said. “(OSU coach Thad Matta) basically told us before we started the second half that they (were) going to come at us with everything they had because Cincinnati is just the type of team that doesn’t give up.” Cincinnati opened the half on a 21-6 run and eventually took a four point lead with 11:34 remaining. The Buckeyes committed four turnovers in fewer than three minutes during that span and the Bearcats were capitalizing on the other end. “We felt like the game was in the bag,” Sullinger said. “Cincinnati came out and punched us in the mouth.” Matta agreed. “We let our guard down,” Matta said. “We had some costly turnovers there, I think three in the first four minutes, that as we told our guys, if you turn it over against Cincinnati, they are scoring at the other end. And they did.” The crowd started to get into the game and suddenly OSU was in danger of being bounced from the Sweet 16 for the third consecutive year. Part of the change in momentum may have had to do with Cincinnati’s change in defense. The Bearcats played zone in the first half, but switched to man-to-man in the second half. “We were actually looking for them to play zone,” sophomore guard Lenzelle Smith Jr. said. “So a few times out there instead of running plays for our man we were running our zone plays against their man-to-man which doesn’t work obviously.” Matta was especially animated toward his team during a timeout in the span. Smith Jr. said his normally calm coach had some choice words for his team, but they helped turn the tide of the game. “He said quite a few things,” Smith Jr. said. “Obviously it worked and we were able to flip the switch. We were playing cool Buckeye basketball which always gets us beat, but we immediately snapped out of that.” Sullinger said the cool Buckeyes hit the showers shortly thereafter and OSU took control of the game. The Buckeyes exploded on a 17-1 run, put the game out of reach and the Bearcats were never able to recover. Four Buckeyes scored during the span and defensively OSU was able to force their opponent into making uncharacteristic mistakes. Cincinnati turned the ball over 18 times Thursday, which is seven more than their season average. Sophomore guard Aaron Craft accounted for six steals by himself. “We took our cool guy look off and we went blue-collar,” Sullinger said.” Normally we would kind of let the game flow like it was flowing and we just stopped and put our hands on it and molded it the way we wanted to mold it.” Sullinger had a big part in molding the game. He finished with 23 points and 11 rebounds. Thomas led all scorers with 26 points. The win advances OSU to the Elite 8 for the first time since the 2006-07 season. The past two years the Buckeyes’ journey ended in the Sweet 16. Senior guard William Buford is the only player on the team who was there for both losses and said it felt great to finally get over the hump. “Just to say that we’re in the Elite 8 and make it past this hump of the Sweet 16 that we haven’t made it over in the past two years just feels great,” Buford said. OSU will face No. 1 seed Syracuse in the regional final Saturday. Tip is set for 7:05 p.m. and the winner will advance to the Final Four in New Orleans. read more

Wrestling Snyder claims gold for USA at World Wrestling Championships in Paris

OSU junior heavyweight has his hand raised after defeating Wisconsin’s Connor Medbery in the 285-pound finals at the 2017 NCAA tournament in St. Louis, Missouri. Snyder won 6-3, while the Buckeyes placed second as a team. Credit: Courtesy of OSU AthleticsOhio State wrestler and Olympic gold medalist Kyle Snyder struck gold for his country once again at the World Wrestling Championships on Saturday in Paris with a 6-5 victory in the men’s freestyle 97kg final over Russia’s Abdulrashi Sadulaev to win a gold medal. Snyder trailed for most of the match, but was able to make the most of a pair of spin-behind takedowns that netted four of his six points in the matchup. Trailing 4-5 with less than 30 seconds remaining, the heavyweight maneuvered himself behind a kneeling Sadulaev to take position, two points and the eventual victory. The Ohio State senior entered the tournament as the top seed among 26 of the globe’s elite wrestlers. This was the third gold medal for Snyder as the Buckeye had also taken home a gold medal from both the Olympics and a previous World Wrestling Championship. The win also clinched a team championship in freestyle for the United States. Snyder’s opening match in Paris was a 10-0 technical fall finish as he defeated Mamed Ibragimov of Kazakhstan in a convincing victory, registering four takedowns and two forced step-outs. Japan’s Naoya Akaguma was waiting for Snyder in the quarterfinals, though the Buckeye made quick work of him as well. The two-time NCAA Champion scored a takedown at the 2:59 mark of the opening period to register his second straight 10-0 technical fall. Throughout the match, the Ohio State senior tallied three takedowns and four forced step-outs. To reach the gold medal matchup, Snyder defeated Aslanbek Alborov of Azerbaijan in the semifinals by a score of 9-2. Snyder dominated by a score of 7-2 in the opening period after recording two takedowns and three forced step-outs. In the second period, the two-time Big Ten Champion scored a takedown and finished the 9-2 victory to advance to the finals. Former Ohio State wrestler Logan Stieber competed in Paris as well. Despite being the No. 2 seed in the tournament, the four-time national champion suffered shutout losses in two of his three matches and was eliminated from the 61kg weight class. Stieber graduated from Ohio State in 2015. read more