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July 22, 2021

Federal government announces early designation of Livestock Tax Deferral provision

On Thursday, Minister of Agriculture and Agri-Food Canada Marie-Claude Bibeau announced the early designation of the Livestock Tax Deferral provision for prescribed drought regions, as well as federal support to Prairie provinces for immediate bilateral adjustments to AgriInsurance program to make drought-damaged crops available for feed.

“Our Government is working closely with our provincial partners to respond on a rapid basis to the evolving drought situation in Western Canada,” said Minister Bibeau. “I am here to listen and help those farm families hard hit by this extreme weather. Our Government is taking action to help them through the challenges we face today and ensure they are supported for a sustainable future.”

“I am extremely pleased with today’s announcement from Minister Bibeau,”  said Dr. Melanie Wowk, Chair, Alberta Beef Producers (ABP). “A significant portion of our proposals to the government were included in the support outlined by the federal government. I would like to thank both federal and provincial governments for their swift action to deliver on our requests. This is a good first step towards maintaining our mother cow herd.”

Points included in today’s announcement:

  • Early designation of Livestock Tax Deferral provision for the prescribed drought regions will allow eligible beef producers to offset revenues with the costs to replace the herd. See: Livestock Tax Deferral Provision and 2021 Initial List of Prescribed Regions.
  • AgriRecovery assessments are underway with British Columbia, Alberta, Saskatchewan, Manitoba and Ontario.
  • Provinces affected by drought can invoke the late participation provision of AgriStability, for producers who have not yet enrolled to access program supports.

“Today’s announcement from Minister Bibeau shows the government’s commitment to agriculture, and the beef industry. I would like to express our sincere gratitude to both Ministers Bibeau and Dreeshen for delivering on the needs of farmers and ranchers, who work hard to provide food to families in Alberta and across Canada,” said Brad Dubeau, ABP General Manager.  

Minister Bibeau’s announcement comes after an afternoon tour of Manitoba farms in the dealing with drought conditions in the Interlake Region.

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Updated: 23/02/2024


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Livestock Price Insurance Index

Expiry Fed Feeder Calf
13-May-2024 230 330 --
10-June-2024 238 340 --
8-July-2024 234 -- --
5-August-2024 232 340 --
2-September-2024 230 346 --
30-September-2024 230 348 388
28-October-2024 228 348 388
Last Updated on February 16, 2024

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