About 11 per cent of marketable calves in Saskatchewan have been enrolled in the Western Livestock Price Insurance Program. (WLPIP)
The number is very close to the 2016 total with more than two weeks remaining until the May 31 signup deadline through Sask Crop Insurance.
Producers with calf price insurance in 2015 and 2016 received payments when the market declined from the spring to the fall.
Co-ordinator Jodie Griffin says WLPIP provides an effective option to protect against the unpredictability of the cattle market.
“The way the cattle markets have been going in the last 12 weeks, it’s almost like ‘strap on a seat belt.’ We’ve had this massive rise and now we are watching a bit of a correction come off. It’s a little bit daunting and sometimes what we see is these producers are staring at these numbers and trying to make sense of it.”
Griffin says producers should determine their breakeven price when deciding to buy insurance.