Hog producers in Manitoba will now be able to get 75 per cent of their estimated AgriStability payment for 2009 through new targeted advance payments (TAP).
The new TAP will give hog producers in the province access to another $70 million in cash flow assistance, the provincial and federal governments said in a release Monday.
The province and federal government in June had announced a TAP program for Manitoba hog farmers, offering 277 eligible producers in the province access to an average TAP per producer of about $136,000.
From that offering, eligible producer applications claimed about $22 million of the $31 million made available to producers, the governments said.
Read Also
U.S. livestock: Cattle futures up, hogs mixed
Live and feeder cattle futures on the Chicago Mercantile Exchange on Tuesday recovered their losses from Monday. However, lean hog…
“With the new funding, approximately 290 eligible producers in Manitoba will be accessing an estimated total of $92 million ($22 million plus $70 million),” putting the average advance per farm up around $317,000, the governments said.
“The challenges facing our pork producers have neither decreased nor stabilized since June,” provincial Agriculture Minister Rosann Wowchuk said Monday.
“This additional funding will strengthen the current cash flow for producers as they persevere through this extended period of unprecedented market challenges.”
Wowchuk and her federal counterpart Gerry Ritz said in Monday’s release that the added advances reflect a commitment made last June to adjust payment rates based on a producer’s need for further advances.
Manitoba hog farmers can expect letters advising them of the advances they’ll be eligible to receive, the governments said. The deadline to apply will be March 31, 2010.
