Sask. boosts caps on livestock loan guarantees

Saskatchewan’s ag ministry has raised the limits on the sizes of loans available to cattle and bison feeders and breeders under its Livestock Loan Guarantee (LLG) program.

Individual maximum loan limits under the program will go from $300,000 to $500,000 under the Cattle Feeder option, and from $200,000 to $500,000 under the Cattle Breeder option. The combined individual maximum limit under both options goes from $300,000 to $500,000.

Individual maximum loan limits have been increased from $200,000 to $500,000 under the Bison Feeder option, and from $125,000 to $500,000 under the Bison Breeder option. The combined individual maximum limit under both bison options has been increased from $300,000 to $500,000.

Other changes include increasing the corporate maximum loan limit under cattle and bison feeder and breeder options from $300,000 to $1.5 million. Previously, corporate and individual borrowing limits were the same.

LLG programs supervisors also now have the authority to allow interprovincial movement of cattle enrolled under the feeder and breeder options. The new rules are expected to help “reduce barriers to livestock expansion and reflect a modern and evolving industry,” the province said in a release Thursday.

Using Radio Frequency Identification (RFID) tags on calves as an alternative to brands is also now permitted under the Cattle Breeder option, the province said.

The tagging date for calves under the Bison Breeder option has changed from Dec. 1 of the year of birth to March 31 of the year after birth, to align with the weaning process, the province added.

“The new rules under the LLG program reflect the changing needs of Saskatchewan livestock producers,” Saskatchewan Cattlemen’s Association chairman Mark Elford said in the province’s release. — Network

Related stories:
Sask. offers deferred principal on livestock loans, Sept. 13, 2009
Sask. offers loan extensions for livestock producers, Dec. 14, 2007

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