With a new year upon us, it brings new perspectives for planning on the year ahead. For producers across the province, this means looking at programs and available support to position for a strong year ahead.
On August 6, the provincial government announced a commitment to an AgriRecovery response. While Phase 1 has already closed, producers who were unable to participate are still eligible for the full amount. As of December 17, roughly 11,500 producers have received $172 million in payments, accounting for 1.83 million head of cattle in the province.
Phase 2 applications are now being accepted. Agriculture Financial Services Corporation (AFSC) is encouraging producers to apply using AFSC Connect. The online application can immediately identify errors and missing information, significantly decreasing the time to payment.
Every client that applies online for Phase 2 is entered to win a Milwaukee 18V impact wrench with grease gun combo or a Dewalt 20V grease gun kit. Under both phases, producers can qualify for up to a total of $200 per cow. The deadline to apply for Phase 2 is 11:59 p.m. January 31, 2022.
AgriRecovery Phase 2 has two different options producers can use to claim: a “Feed Need,” and a receipted program. The program was developed with all producers in mind, and attempts to provide equal support regardless of drought preparedness. For producers who bought feed because of drought, the receipted program is an easy way to capture some of those costs. Conversely, for producers who have managed drought through their own operation, stored grass, and stored feed, the “Feed Need” calculation can capture those costs.
Keep in mind that AgriRecovery is not complete coverage and should not be relied on. The province has a series of programs that are available to beef producers to help mitigate risk. Some of these programs are worth considering with fresh eyes for 2022. The removal of the Reference Margin Limit in AgriStability and changes to the Moisture Deficiency Insurance (MDI) program may benefit cow-calf producers.
Anyone who had an insurance policy in 2021 will see it automatically renewed, and will receive a notice later in January with policy details. New applications, changes to an existing policy, or cancellations must be submitted to AFSC no later than February 28, 2022.
This article was written for ABP Magazine. Watch for Volume 2 Issue 1 to appear in your mailbox mid-January 2022.
AFSC’s webpage dedicated to AgriRecovery includes the following content, as well as a list of Frequently Asked Questions, Terms and Conditions, and more.
Ed Ten Hove and Emmet Hanrahan, Vice President – Product Innovation at AFSC, talk through some of the common questions about phase two of the AgriRecovery initiative. More information is available here: afsc.ca/
For a complete listing of AFSC’s AgriRecovery Minutes, scroll to the bottom of AFSC’s AgriRecovery webpage.