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December 7, 2022 Business Tools

Alberta government increases Feeder Association Loan Guarantee Program amount

Feeder associations in Alberta will soon be able to obtain more competitive financing to meet current market demands.

The provincial government is increasing the overall loan guarantee for beef and sheep producers purchasing livestock for feeding to $150 million.

Created to help producer-run feeder co-operatives secure financing, the Feeder Association Loan Guarantee Program previously provided an overall loan guarantee of $100 million.

“We are increasing the feeder association loan guarantee to make sure Alberta’s livestock producers have access to capital they need to make it through the busy fall and winter,” said Nate Horner, Minister of Agriculture and Irrigation.

“With cattle prices up 25 per cent, this increase will allow Alberta’s feeder associations greater access to low-interest capital loans.”

Members of Alberta’s 45 local feeder associations can use this guarantee to access financing from lenders to purchase beef calves and sheep for feeding.

“The increase in the loan guarantee will help ensure sustainable growth in Alberta’s livestock feeding sector, giving our members better access to feeder cattle financing,” said Feeder Associations of Alberta Chair Philipp Lammerding.

“This change improves the future for Alberta’s cattle feeders and makes our industry more viable and accessible for new entrants and young farmers.”

Since its creation in 1936, the Feeder Association Loan Guarantee Program “has guaranteed $11 billion in private financing to Alberta livestock feeders,” according to a press release by the Ministry of Agriculture and Irrigation. Each year, this program finances about 17 to 24 per cent of the province’s calf crop.

About the Author

Piper grew up on a purebred cow-calf operation in Southern Alberta, and she studied English and history at the University of Alberta and journalism at the University of King's College. She has written for industry publications for more than a decade.

Author

Cattle Report

Updated: 12/04/2024

Steers

Live: ---
Rail: 415.00-420.00 del

Heifers

Live: ---
Rail: 415.00-420.00 del

Choice Steers

Live: 182.00 (KN, TX) 185.00 (NE)
Rail: 293.00-295.00 (NE, IA)

Choice Heifers

Live: 182.00 (KN, TX) 185.00 (NE)
Rail: 293.00-295.00 (NE, IA)

Boner Cows

Over 500 lbs: 250.84

Canadian Dollar

$72.82   0.32

Livestock Price Insurance Index

Expiry Fed Feeder Calf
8-Jul-24 226 -- --
5-Aug-24 222 318 --
2-Sep-24 220 324 --
30-Sep-24 220 324 366
28-Oct-24 218 324 366
25-Nov-24 216 320 364
23-Dec-24 222 312 360
Last Updated on April 11, 2024

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