Table 1 Summary statistics of feeder...

Table 1

Summary statistics of feeder cattle LRP policies sold from 2014 to 2023 (n = 36,488)

Variable	Average	Standard deviation	Minimum	Maximum
Head	151.381	303.144	1	12,000
Weight per policy (cwt)	1,231.47	2,686.815	4	120,000
Weight per head (cwt)	770.689	127.038	300	1,000
Expected ending price ($/cwt)	181.790	29.835	99.72	259.70
Producer premium ($/cwt)	4.675	1.610	0.15	12.60
January^a	0.079	0.270	0	1
February^a	0.092	0.289	0	1
March^a	0.138	0.345	0	1
April^a	0.150	0.357	0	1
May^a	0.068	0.252	0	1
June^a	0.062	0.241	0	1
July^a	0.087	0.282	0	1
August^a	0.076	0.265	0	1
September^a	0.049	0.217	0	1
October^a	0.053	0.225	0	1
November^a	0.072	0.258	0	1
December^a	0.073	0.261	0	1
2015^b	0.047	0.212	0	1
2016^b	0.029	0.167	0	1
2017^b	0.043	0.202	0	1
2018^b	0.021	0.144	0	1
2019^b	0.017	0.129	0	1
2020^b	0.011	0.105	0	1
2021^b	0.131	0.337	0	1
2022^b	0.277	0.448	0	1
2023^b	0.425	0.494	0	1

Variable	Average	Standard deviation	Minimum	Maximum
Head	151.381	303.144	1	12,000
Weight per policy (cwt)	1,231.47	2,686.815	4	120,000
Weight per head (cwt)	770.689	127.038	300	1,000
Expected ending price ($/cwt)	181.790	29.835	99.72	259.70
Producer premium ($/cwt)	4.675	1.610	0.15	12.60
January^a	0.079	0.270	0	1
February^a	0.092	0.289	0	1
March^a	0.138	0.345	0	1
April^a	0.150	0.357	0	1
May^a	0.068	0.252	0	1
June^a	0.062	0.241	0	1
July^a	0.087	0.282	0	1
August^a	0.076	0.265	0	1
September^a	0.049	0.217	0	1
October^a	0.053	0.225	0	1
November^a	0.072	0.258	0	1
December^a	0.073	0.261	0	1
2015^b	0.047	0.212	0	1
2016^b	0.029	0.167	0	1
2017^b	0.043	0.202	0	1
2018^b	0.021	0.144	0	1
2019^b	0.017	0.129	0	1
2020^b	0.011	0.105	0	1
2021^b	0.131	0.337	0	1
2022^b	0.277	0.448	0	1
2023^b	0.425	0.494	0	1

Note(s): ^aMonth the policy purchased

^bCommodity year the policy was purchased

Source(s): USDA RMA (2022b)

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