The Livestock Indemnity Program (LIP) is a program periodically authorized and funded on an emergency basis by

Congress A congress is a formal meeting of the representatives of different countries, constituent states, organizations, trade unions, political parties, or other groups. The term originated in Late Middle English to denote an encounter (meeting of a ...

to compensate

livestock Livestock are the domesticated animals raised in an agricultural setting to provide labor and produce diversified products for consumption such as meat, eggs, milk, fur, leather, and wool. The term is sometimes used to refer solely to animals ...

producers for losses caused by a

natural disaster A natural disaster is "the negative impact following an actual occurrence of natural hazard in the event that it significantly harms a community". A natural disaster can cause loss of life or damage property, and typically leaves some econ ...

. Under the program, a payment is made to help producers defray the cost of replenishing their herds when livestock are killed by a natural disaster.

References

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External links

United States Department of Agriculture Agriculture Secretary Vilsack Announces New Livestock Indemnity Program - July 7, 2009
United States Department of Agriculture programs