Canada’s livestock producers can now apply for emergency advances through the advance payments program (APP), Agriculture Minister Gerry Ritz announced Friday.
“We are pleased agreements are now in place with 10 producer organizations to deliver emergency advances so cattle and hog farmers can get the cash flow they need,” Ritz said in a release.
The program infrastructure is in place with 10 of 11 livestock producer
organizations delivering emergency advances, the government said
In Quebec, emergency advances are available now to pork producers, but emergency advances for cattle producers will be put in place this summer by the Fédération des producteurs de bovins du Québec.
Livestock producers who are eligible may apply for emergency advances under the APP until March 31, 2009. Emergency advances can be issued to eligible producers based on their expected production, rather than on current inventory.
Changes to the Agricultural Marketing Products Act in February boosted the maximum amount of an emergency advance from $25,000 to $400,000, the government noted. In cases of “severe economic hardship,” some security requirements (such as the need for first rank
security interest on the product) may also be waived for emergency advances only.
Ottawa officially declared a state of severe economic hardship for cattle and hog producers on Feb. 29.
The changes make about $3.3 billion available to livestock producers in the form of advance payments, the government said.