Canada to introduce livestock price insurance
This coming spring hog and cattle producers in the western provinces of Canada will be able to purchase livestock price insurance.
The four-year Western Livestock Price Insurance Programme (WLPIP) pilot is aimed at helping livestock producers protect themselves against unexpected price declines by allowing them to purchase insurance on an insured price selected by the producer from the available coverage levels. Premiums fully funded by producers.
Alberta introduced price insurance in 2009 for their cattle and hog producers sectors. This initiative expands the Alberta programme to a regional model, opening it up first to livestock producers in British Columbia and Saskatchewan.
The new livestock price insurance programme is a collaboration between the Canadian federal government and the Western provinces.
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