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Can LRP premiums or coverage prices change after they are established for a given day?

April 26, 2017coverage given LRP premiums prices

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Can LRP premiums or coverage prices change after they are established for a given day?

1 Answer

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No, once the prices and premium rates are set for a given business day, they are guaranteed until 9:00 am the following morning and will not change. This allows producers to be certain of the price they will pay for coverage unlike the futures or options markets where prices can change quickly or you may have to move the market to fill an order.