The Alberta government is raising the loan limits available to cattle producers through the province’s Feeder Associations Guarantee program, reflecting increased cattle prices.
Individual and joint membership loan limits will be raised to $3 million from $2 million.
“Feeder associations are an essential part of Alberta’s livestock industry and are a proven way to support new entrants in primary agriculture. These amendments ensure thousands of producers across the province have access to the capital they need to keep producing Alberta’s world-renowned beef,” says RJ Sigurdson, Minister of Agriculture and Irrigation, in a news release.
These amendments follow last fall’s Feeder Associations Guarantee Program’s overall loan guarantee limit increase to $150 million.
“These changes will help to ensure continued sustainable growth in Alberta’s livestock feeding sector, providing much-needed support to our existing feeder members while making this capital-intensive business more viable and accessible to new entrants and young farmers in the current market environment,” notes Philipp Lammerding, chair of Feeder Associations of Alberta Ltd.
There are 45 feeder associations in Alberta, with about 2,100 total members.