Central South Dakota News

U.S. Senators Mike Rounds and Amy Klobuchar have introduced the Livestock Indemnity Program Improvement Act, a bipartisan legislation aimed at providing fairer market prices for livestock disaster assistance programs. The bill would require quarterly updates to Livestock Indemnity Program payment rates to accurately reflect livestock market prices.

Rounds emphasized the importance of offering producers fair compensation, stating, “South Dakota farmers and ranchers work hard to produce quality livestock. These producers deserve to be paid a fair and updated market price for their livestock when tragedy strikes.”

Klobuchar echoed this sentiment, highlighting the financial investments made by ranchers in their livestock and the need for a safety net that reflects the market value of any lost livestock. She stated, “This bipartisan legislation will ensure ranchers have a safety net that more accurately reflects the market value of any lost livestock.”

Support for the Livestock Indemnity Program Improvement Act has been voiced by industry organizations such as the National Cattlemen’s Beef Association and the South Dakota Farmers Union. Allison Rivera, Executive Director of Government Affairs at National Cattlemen’s Beef Association, emphasized the importance of timely updates to the program to ensure cattle producers are reimbursed at the fair market value of their livestock.

Doug Sombke, President of South Dakota Farmers Union, commended the Senators for their efforts in updating the Livestock Indemnity Program to better align with the current market conditions. He emphasized the need for flexibility in emergency relief programs to address climate-related impacts and ensure fair compensation for farmers and ranchers.

The Livestock Indemnity Program Improvement Act aims to provide a more responsive and accurate system for compensating livestock producers for losses due to natural disasters and other eligible conditions. The bill seeks to address the challenges faced by producers and offer them a fairer market price for their livestock in times of crisis.