Time is running out for prairie producers to sign up for this year’s calf price insurance program. The sign up period began in early February and closes May 30, 2019.
Bill Hoar, product owner with Western LPIP (livestock price insurance program), says that livestock producers can sign up over the phone, at a financial services centre (for Alberta), or online.
The program — which allows ranchers to insure a floor price for calves whether they are sold in the fall or not — was born out of a need for better risk management following the BSE disaster in 2003.
Hoar explains that producers can choose their coverage level, pay the premium required, and, if in the fall prices are up they can participate in that market rally. If, however, prices are below their selected coverage level and pricing period (from September to December), they would receive a payout.
Listen below for a full explanation of the calf price insurance program and how to get more information: