There has been an uptick in producers taking advantage of Saskatchewan Crop Insurance’s Western Livestock Price Insurance Program (LPI).
Coordinator of the program, Jodie Griffin, says program is trending upward close to pre-pandemic levels, but didn’t have exact numbers at this time. She says through the COVID-19 pandemic, participation in the program lagged behind due to volatility in the market and cost to buy insurance.
“Now that we’ve got these levels the way that they’re at and premium rates that are quite attractive, we’re seeing that participation pick up,” said Griffin.
She says the Livestock Price Insurance Program offers 3 programs, two of which – the Feeder and Fed cattle – are available to purchase all year-round, and the other is the calf program. The deadline to purchase calf insurance is June 8th.
Once those deadlines have passed, Griffin says they then calculate how many applied for the programs, then publish them towards the end of June.
She encourages new cattle producers, or those who are getting back into the industry, to apply for the program.
“When you enroll into the program, it doesn’t obligate you to buy a policy and it’s a one-time enrollment. Once you’re in, you’re in, and you have the flexibility of being able to participate on the program whenever it’s convenient.”
For more information related to LPI, go to the Saskatchewan Crop Insurance website or call 1-888-935-0000.
Note: A previous version of this story mentioned the Livestock insurance program offers 3 programs, including the CAP Program (Canadian Agricultural Partnership), as well as the deadline to purchase insurance through LPI is June 8th. It has since been corrected to mention the calf program, as well as mention the feeder and fed cattle programs available year-round.