Canada: short-term hog loan changes

27-11-2008 | |

Canadian Agriculture Minister Bob Bjornerud has announced an optional one-year deferral of the principal payments owing on the short-term Hog Loan Programme.

Hog producers will have the option to defer the principal portion of the first payment from May 2009, to May 2010. Also removed is the requirement for accelerated repayment when the weekly pool price exceeds $140 per ckg (price per 100 kilograms).

Cattle and hog producers opting for the principal payment deferral will still be required to pay any interest that has accrued on their loans. “Cattle and hog producers continue to face financial pressures,” Bjornerud said. “The industry has requested this principal payment deferral to help producers cope with the challenges they face.”


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