AgriRecovery

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Source: Agriculture Financial Services Corporation

After a natural disaster, AgriRecovery helps producers recover extraordinary costs beyond what is available through other financial assistance programs.

The 2020 Canada-Alberta Fed Cattle Feed Cost Offset Initiative includes an immediate Fed Cattle Feed Assistance payment and a Bid Set-Aside

This joint Canada-Alberta AgriRecovery initiative has two components – first, the Fed Cattle Feed Assistance, a retroactive payment for cattle set aside from May 1 to June 30 and second, a Bid Set-Aside process for cattle set aside starting June 29, 2020. The bid component of the initiative will continue until the initiative’s funds are distributed, the need to set aside animals no longer exists or the end date of March 31, 2021. This initiative is subject to a signed contribution agreement by both levels of government. Agriculture Financial Services Corporation (AFSC) will administer both stages of the program in Alberta.

Overall, the initiative compensates producers for the extraordinary cost of keeping slaughter-ready cattle on maintenance rations due to industry disruptions related to COVID-19. Beef producers can hold on to market-ready cattle for several weeks, allowing the supply of animals to more evenly match demand and processing capacity.

Eligible Participant: To be eligible for either component of the initiative, the producer must be a Canadian resident that reports farm income for tax purposes in Alberta and is actively feeding the eligible cattle in Alberta. For the second stage of the initiative (bid set aside or bidding process), producers must commit to keep cattle from slaughter for 63 days. Eligible producers can choose to participate in one or both stages of the initiative.

Eligible animals: Eligible animals are slaughter-ready fed cattle, eligible for grade “A” designation, where the average net weight of the lot of animals at the time they are accepted for set-aside must be a minimum of 1,300 pounds net weight for heifers and a minimum of 1,400 pounds net weight for steers. Cows, bulls and cull animals are not eligible under this initiative.

Please note: Animals accepted into the Fed Cattle Set Aside the week of November 2, 2020 will be released from set aside on January 8, 2021.The final day program benefits will be issued in 2020 is December 18. Benefits not issued prior to this date will be issued in 2021

Program benefits are issued once AFSC receives notification through CCIA that substantially all of the registered RFID tags are retired.

 

For further information please visit the AFSC AgriRecovery page here

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