Insured Price

• For Exchange Pricing:
  • A class-based based endorsement, the Insured Prices in the rows labeled Class III and Class IV display the quarterly CME Future Class Prices the producer chose to protect on the date of purchase.
  • A component-based endorsement, the Class III, cheese, butter and excess protein rows display the quarterly product prices that the producer chose to protect using the component based endorsement.
  • The Component Revenue Guarantee can be and is broken down into CME Class III, excess cheese and butter contracts.
  • The listed exchange products will all have an Insured price stated, but the products with effective pounds are the ones insured and have an influence on the indemnity.
• For Component Pricing:
  • Insured prices for a Class or Component based endorsement are displayed here in terms of butterfat, protein, other solids and non fat solids.

* The Effective Revenue Guarantee is broken down into Exchange pricing and Component pricing. These are 2 different ways to breakdown and see the coverage the producer has on.