New Opportunities to Secure Cash Advances on Western Cattle – June 21, 2016
If you are a cattle producer in Western Canada, you can now use coverage under the Western Livestock Price Insurance Program to secure a cash advance under the Advance Payments Program.
Currently, under the Advance Payments Program, cattle producers can access an advance on calves, feeders, fed animals and breeding stock intended for sale using the animals and AgriStability as security.
With this new change, cattle producers can now choose between AgriStability or Western Livestock Price Insurance Program to secure a cash advance.
To request a cash advance using the Western Livestock Price Insurance Program as security, cattle producers in British Columbia, Alberta, Saskatchewan and Manitoba are encouraged to contact one of the following producer organizations:
|Western Cash Advance Program Inc.||780-674-2622||Alberta, Saskatchewan|
|British Columbia Breeder & Feeder||250-992-8433||British Columbia|
|Manitoba Livestock Cash Advance Inc.||1-866-869-4008||Saskatchewan, Manitoba|
The Advance Payments Program is a federal loan guarantee program that increases producer cash flow allowing them the financial flexibility to market their commodities at the most opportune time.
The Western Livestock Price Insurance Program is a risk management tool available to livestock producers in British Columbia, Alberta, Saskatchewan and Manitoba.
AgriStability is a Business Risk Management Program that provides support when producers experience a large margin decline. Producers may be able to receive an AgriStability payment when current year program margin falls below 70% of reference margins.
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