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March 25, 2021

ABP welcomes decision on removal of AgriStability reference margin limit

March 25, 2021

Calgary, AB – Following today’s Federal, Provincial and Territorial Meeting of Agriculture Ministers, an agreement has been reached to remove the reference margin limit (RML) within AgriStability. Alberta Beef Producers (ABP) would like to thank Minister Dreeshen, and the Prairie Ministers, for accepting this recommendation and providing producers with an enhanced business risk management program.
 
Today’s announcement means $95 million in further funding available through AgriStability, making the program more equitable and predictable for producers. The removal of the RML will be retroactive to 2020 and the AgriStability enrollment deadline has been extended from April 30 to June 30, 2021.
 
ABP has continually expressed our support of the recommendations made by the federal government and called on the provincial government to accept the changes to AgriStability, which included the RML removal and an increase to the compensation rate from 70 to 80 percent – providing $170 million in funding for Canadian farmers and ranchers in need of support. While we are disappointed an agreement has not been reached on the compensation rate, we are encouraged that this offer remains on the table.
 
“Producers have long been advocating for improvements to AgriStability. ABP has participated in discussions at every level to put forth solutions to the challenges expressed by producers. ABP is pleased with the RML removal and we look forward to reaching an agreement on the compensation rate,” said Melanie Wowk, ABP Chair.
 
Accepting the compensation rate recommendation would offer further support to Alberta’s agriculture sectors in the short term, as producers continue to contribute to Alberta’s economic recovery and work through challenges resulting from the pandemic. We look forward to the long-term modernization of the business risk management suite under the next five-year agricultural policy framework in 2023.

For all media inquiries, please contact:

Katelyn Laverdure
Phone:
 403.451.1176
Email: katelynl@albertabeef.org

About the Author

Katelyn has been with ABP for over 15 years and grew within the organization to the position of Lead, Stakeholder Communications. She is an experienced agriculture communicator with a passion for creating content and fostering relationships to encourage meaningful collaboration. Katelyn has a Public Relations Certificate from Mount Royal College.

Author

Cattle Report

Updated: 17/05/2024

Steers

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Rail: 430.00-433.00 del

Heifers

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Rail: 430.00-433.00 del

Choice Steers

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Choice Heifers

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Boner Cows

Over 500 lbs: 252.66

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Livestock Price Insurance Index

Expiry Fed Feeder Calf
5-Aug-24 234 326 --
2-Sep-24 232 330 --
30-Sep-24 230 332 3572
28-Oct-24 228 332 372
25-Nov-24 226 326 368
23-Dec-24 230 318 364
20-Jan-25 234 320 --
Last Updated on May 9, 2024

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