What type of insurance plan provides protection against price declines for feeder cattle?

The insurance plan that provides protection against price declines for feeder cattle is Livestock Risk Protection (LRP). LRP is designed specifically for livestock producers by allowing them to insure the market price of their cattle against declines. This type of insurance is crucial for farmers who are exposed to the volatile nature of livestock prices, enabling them to secure a price that is projected for their feeder cattle, which helps in managing financial risks associated with sudden drops in market prices.

While other options like Federal Crop Insurance and Whole Farm Revenue Protection offer broader coverage options, they do not specifically target livestock price declines. Cattle Revenue Assurance, though similar, is typically more focused on overall revenue rather than the specific price protection that LRP offers. Therefore, LRP is the most direct and suitable option for protecting against price declines in feeder cattle specifically.