August 10, 2021
Quebec, Canada farm finance agency pays nearly $55 million to cattle producers
La Financière agricole du Québec, the provincial farm finance agency of Quebec, Canada, has paid nearly $55 million to producers of feeder calves, steers and slaughter cattle.
The payment is as part of the first compensation advance of the 2021 insurance year to the Programme d'assurance stabilisation des revenus agricoles (ASRA) farm income stabilisation insurance programme.
For feeder calf producers, the total payment amounts to $46 million, which represents $60.66 per cow and $0.6949 per kilogramme of calf sold after deduction of the 2021 preliminary contribution. Steer and slaughter cattle producers will receive $8.6 million, or $0.1696 per kilogramme of weight gain, or $60.22 per steer sold after holdback. Of this payment of nearly $55 million, a net amount of more than $7 million will be paid to producers after payment of their contribution.
First advance payment for grain-fed calf producers took place in May. After collecting their annual contribution to the programme, producers were awarded a total of more than $6 million.
These payouts will allow producers in the beef sector to have access to liquidity in a context where the selling price is lower than the cost of production.
- The Review