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Agricultural Act of 2014

A comprehensive federal law that governs various agricultural and food programs in the United States, including farm subsidies, conservation, food assistance, and rural development.

Livestock Indemnity Program (LIP)

A program managed by the U.S. Department of Agriculture that provides payments to livestock producers for animals that die or are injured due to eligible adverse weather, disease, or attacks by certain predators. This bill specifically amends how LIP payments are made for Mexican gray wolf attacks.

Indemnity payments

Financial compensation paid to someone for damages, loss, or injury, often under a contract or by government program. In this case, payments to livestock producers for losses.

Mexican gray wolves

A subspecies of gray wolf that is endangered and primarily found in parts of Arizona, New Mexico, and Mexico. Their reintroduction into the wild has led to conflicts with livestock producers.

Market value

The price an asset or livestock would fetch in the open market, typically determined by supply and demand, and factors like age, weight, and condition.

Depredations

Acts of preying upon or plundering, often referring to wildlife killing livestock.