Livestock Risk Management and Education Act This bill directs the Department of Agriculture (USDA) to provide competitive grants to improve the farm management knowledge and skills of livestock producers. USDA must give priority to applicants that (1) demonstrate an ability to work directly with livestock producers, (2) collaborate with farm management educational programs and associations, and (3) include in their application a description of the curriculum the applicant is seeking to carry out to educate livestock producers on risk management through futures market participation and hedging strategies.