Agricorp will accelerate risk management program payments to Ontario beef producers for the first and second quarters of 2024. The move comes as Cargill’s Guelph beef processing plant remains closed due to a union strike. Starts May 27, 2024.
Agricorp says that to speed up payments, it has extended the deadline for reporting cattle sales from July 31 to July 15, which will mean RMP payments will reach farmers up to three weeks earlier.
Additionally, the age requirement for cattle to be under 30 months will be temporarily waived. This temporary adjustment to the age requirement will allow marketable cattle to be subject to the RMP, AgriCorp said.
Culled cattle are not subject to the RMP.
The Canadian and Ontario governments have increased AgriStability interim payments to beef farmers from 50 per cent to 75 per cent, the Ontario Beef Farmers Association said in a release supporting the renewal of the government program.
The Ontario government says it and the BFO are closely monitoring loans under the Feedlot Cattle Loan Guarantee Program. If necessary, the Minister will work with the BFO to consider flexibility in terms of timelines.
“Our government is committed to strengthening our agriculture and food sector, especially at a time of increasing market challenges,” said Rob Flack, Minister of Agriculture, Food and Agribusiness. “These measures will help Ontario’s beef sector remain resilient in the face of uncontrollable cost pressures and ready to seize new opportunities.”
Agricorp is committed to working with farmers individually. Producers struggling with cash flow or insurance payments should contact Agricorp to discuss their options. OMAFA has also developed resources on marketing and feeding livestock during market disruptions. Available here.
Farmers can access free programs to support their mental health, including the 24-7 Farmer Wellness Initiative teleresource at 1-866-267-6255.
