Sponsored Content – ATB
In recent years, there has been a significant decline in the number of mother cows in Alberta. The October Cattle on Feed reports from both the USA and Canada revealed a noticeable increase in the number of heifers on feed, compared to previous years. This shift can be attributed to drought conditions and high prices. Lee Irvine, a Beef Specialist at ATB emphasizes, “These indicators suggest a continued decline in the provincial herd this year.”
Certain areas of the province received adequate rainfall. In other regions, they were able to bale some greenfeed for cattle feed, while other areas remained drought stricken.
ATB’s Agriculture team is here to support beef producers as they navigate these challenging conditions. In response to market conditions and client needs, ATB has created new provisions in financing to specifically assist beef producers in maintaining their working capital while also helping to maintain the breeding herd here in Alberta.
ATB will offer beef and cattle producers the flexibility of interest only on a new loan for up to two years on all bred heifers and bred cows purchased after September 1, 2023, with an available amortization up to five additional years.
“This program will not be limited to one type of breeding animal; instead, it will allow producers to make their own business decisions about which type of breeding animals will best suit their specific situation,” says Jon Neutens, Head of Agriculture at ATB. “Our Ag team leads with expert advice and industry knowledge. We’re here to help producers make the right choices for their businesses, and this is just one of the ways that ATB supports the agriculture sector.”
“Our goal is to help producers maintain their working capital while they move bred cows from drought stricken areas to areas of the province with available feed. And reduce the number of bred cows that are harvested. By doing so, we can better support beef producers and the full production chain,” says Irvine.
Producers are encouraged to contact their ATB Ag Relationship Manager for full loan details, or reach out to us here.
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