What is PRF?

PRF stands for Pasture, Rangeland, and Forage. This product is designed to compensate a farmer for reduced haying/grazing from a lack of normal rainfall.

 

How does the coverage work?

Claims are based off precipitation totals in a gridded area. Below you can see the average rainfall for Ackley, IA by interval. You can select the intervals you would like to insure.

In this example, Apr/May, Jun/Jul, and Aug/Sep were selected. In Apr/May, average rainfall is expected to be 7.73 inches. Actual rainfall in 2021 was 55.2% of the 7.73 inches.

Franklin County has a grazing value of $75.60 per acre. You can modify the value by using a productivity factor of 60-150%. Coverage levels range from 70-90%. In this example, 100% productivity factor and 90% coverage was selected. The premium was $4.22 per acre and the claim payment was $19.43 per acre. This is a 461% return on investment.

 

You can use PRF for grazing or haying. All acres are not required to participate. The crop year is January to December. Sales closing date is December 1st.