Agriculture Minister Ron Kostyshyn says Manitoba Agricultural Services Corporation will provide support measures through its AgriInsurance program, improving cash flow for livestock producers needing to secure additional feed.
MASC will be applying a quality adjustment factor to reduce yield appraisals by 40 per cent for drought-stricken cereal crops that are converted to livestock feed.
As well, there will be deferred premium deductions on payments for forage insurance claims made prior to Oct. 1, partial claim payments on forage insurance and pasture days insurance claims, when feasible; and the ability for livestock to graze on insured forages after the first cut without impact on claim calculation.
MASC will also offer lending clients an opportunity to defer loan payments and can provide guidance on appropriate options to finance feed purchases.
Kostyshyn says they recognize that some of Manitoba’s livestock producers are facing challenging conditions with the lack of precipitation in certain regions of the province.
“With pastures drying up and minimal sources of feed for livestock, it is important to give producers the resources they need to maintain their herds. These measures will help to improve cash flow for Manitoba’s livestock producers and provide additional options to access feed.”
To learn more about the business risk management programs available to producers offered by the Manitoba government, Manitoba Agricultural Services Corporation and the Government of Canada, visit www.gov.mb.ca/agriculture/farm-management/cost-production/business-risk-management.html.