Alberta’s Agriculture Financial Services Corporation’s Cattle Price Insurance Program (CPIP) has been expanded to include calves, the third cattle insurance program to become available within the CPIP suite of programs.
AFSC said CPIP-Calf is available to purchase from February to May each year with policies expiring in the fall calf run from September to December. The creation of customized programs to reflect different market requirements was done in close consultation with the Feeder Association of Alberta and Alberta Beef Producers.
In purchasing a CPIP policy, the producer has a known floor price for those cattle without limiting the ability to sell them at a higher price.
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“We knew that CPIP had to be market driven and easy to use. This program delivers what our producers require,” Agriculture Minister Jack Hayden said in a release. “This made-in- Alberta insurance program reflects the risks faced by Alberta beef producers and is being closely watched by other jurisdictions across Canada.”
AFSC said a price insurance program for hogs is currently under development, and is expected to be available late spring 2011.
