Table 2 Summary statistics of fed cattle...

Table 2

Summary statistics of fed cattle LRP policies sold from 2014 to 2023 (n = 4,489)

Variable	Average	Standard deviation	Minimum	Maximum
Head	245.87	489.20	1	8,000
Weight per policy (cwt)	3,374.575	6,860.788	12.5	128,000
Weight per head (cwt)	1,365.63	87.652	1,000	1,600
Expected ending price ($/cwt)	144.55	15.54	100.18	176.36
Producer premium ($/cwt)	3.540	1.133	0.09	8.20
January^a	0.088	0.284	0	1
February^a	0.118	0.322	0	1
March^a	0.115	0.319	0	1
April^a	0.144	0.351	0	1
May^a	0.047	0.211	0	1
June^a	0.030	0.170	0	1
July^a	0.054	0.225	0	1
August^a	0.100	0.299	0	1
September^a	0.078	0.269	0	1
October^a	0.066	0.248	0	1
November^a	0.084	0.278	0	1
December^a	0.077	0.266	0	1
2015^b	0.014	0.119	0	1
2016^b	0.013	0.113	0	1
2017^b	0.016	0.124	0	1
2018^b	0.006	0.079	0	1
2019^b	0.003	0.052	0	1
2020^b	0.004	0.063	0	1
2021^b	0.112	0.316	0	1
2022^b	0.427	0.495	0	1
2023^b	0.404	0.491	0	1

Variable	Average	Standard deviation	Minimum	Maximum
Head	245.87	489.20	1	8,000
Weight per policy (cwt)	3,374.575	6,860.788	12.5	128,000
Weight per head (cwt)	1,365.63	87.652	1,000	1,600
Expected ending price ($/cwt)	144.55	15.54	100.18	176.36
Producer premium ($/cwt)	3.540	1.133	0.09	8.20
January^a	0.088	0.284	0	1
February^a	0.118	0.322	0	1
March^a	0.115	0.319	0	1
April^a	0.144	0.351	0	1
May^a	0.047	0.211	0	1
June^a	0.030	0.170	0	1
July^a	0.054	0.225	0	1
August^a	0.100	0.299	0	1
September^a	0.078	0.269	0	1
October^a	0.066	0.248	0	1
November^a	0.084	0.278	0	1
December^a	0.077	0.266	0	1
2015^b	0.014	0.119	0	1
2016^b	0.013	0.113	0	1
2017^b	0.016	0.124	0	1
2018^b	0.006	0.079	0	1
2019^b	0.003	0.052	0	1
2020^b	0.004	0.063	0	1
2021^b	0.112	0.316	0	1
2022^b	0.427	0.495	0	1
2023^b	0.404	0.491	0	1

Note(s): ^aMonth the policy was purchased

^bCommodity year the policy was purchased

Source(s): USDA RMA (2022b)

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