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Canada: New price insurance product for western livestock producers

The pilot will help livestock producers protect themselves against unexpected price declines by allowing them to purchase insurance on an insured price selected by the producer from the available coverage levels.

Tuesday 28 January 2014 (4 years 8 months 20 days ago)
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An innovative new livestock price insurance program will be available this spring to help cattle and hog producers in Western provinces manage price risks faced by the industry.

The four-year Western Livestock Price Insurance Program (WLPIP) pilot is a unique collaborative arrangement between the federal government and the Western provinces to enhance risk management options available to the livestock industry. The pilot will help livestock producers protect themselves against unexpected price declines by allowing them to purchase insurance on an insured price selected by the producer from the available coverage levels. Premiums fully funded by producers.

Alberta introduced price insurance in 2009 for their cattle and hog producers sectors. This initiative expands the Alberta program to a regional model, opening it up first to livestock producers in British Columbia and Saskatchewan.

Friday January 24, 2014/ Agriculture and Agri-Food Canada/ Canada.
http://news.gc.ca

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