Quebec’s provincial farm finance agency is considering an early advance on the insurance program advances it provides to hog farmers.
In a release Friday, La Financiere agricole said that after meeting with the hog farmers’ association, la Federation des producteurs de porcs, and taking into account the current situation in the hog sector, it would consider making a portion of the insurance advance available starting in November.
Advance funds, on the regular schedule, were otherwise set to flow to hog farmers in January 2008, the agency said.
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La Financiere agricole found it necessary to publish a clarification about how the insurance advance system operates and how the schedule of payments is tied to cash flow needs for different livestock sectors, in view of information circulating recently, the agency said Friday.
Advances are scheduled to go to the feeder cattle sector next month, and to “other” livestock sectors in December, La Financiere noted.
One farm leader recently described the situation in Quebec’s hog sector as potentially “explosive,” as farmers deal with surplus animals and a drop in market hog prices after the recent closure of two Olymel slaughter plants.
