Reading Time: < 1 minute Agriculture Financial Services Corp. is adjusting the low yield allowance for 2023 to encourage farmers to put more poor-quality crops toward livestock feed in dry areas. For 2023, AFSC is doubling the low yield threshold to allow for additional cereal or pulse crops to be salvaged for livestock feed. For example, the barley crop threshold […] Read more
AFSC announce changes to low yield allowances
Now’s the time for a second look a cattle price insurance, says expert
Livestock Price Insurance and AgriStability make sense to enter when cattle prices are up
Reading Time: 4 minutes Glacier FarmMedia – Livestock Price Insurance has never looked better for cattle producers, says a farm management specialist. Cattle prices have risen steadily over the past 12 months and are approaching the highs seen in 2014 and 2015, said Ben Hamm, an official with Manitoba Agriculture. “We saw some significant profitability in 2014-2015,” Hamm said […] Read more
Insurer moves to monthly drought coverage payouts
AFSC also cancelling pasture coverage program that relied on satellite imagery
Reading Time: < 1 minute Producers can expect several changes to Agriculture Financial Services Corporation’s insurance products for 2023. The changes include a move to monthly payments for Moisture Deficiency Insurance, an increase in the reseeding benefit compensation rate, the addition of a bear predation pilot project (for hives and bees) to the Wildlife Damage Compensation Program, increased coverage for […] Read more
Should soil organic matter be a factor in insurance premiums?
Research, including a study here, has found higher organic matter reduces drought impact
Reading Time: 4 minutes Farmers may one day see lower crop insurance premiums if they have high levels of organic matter in their soil. A study by the Agriculture Financial Services Corporation found that farms with higher soil organic matter have better yields and lower crop insurance claims. In the region between Edmonton and Red Deer, AFSC researchers divided fields according […] Read more
Lending terms for ranchers
Reading Time: < 1 minute Agriculture Financial Services Corporation says it has made “some interim changes to our loan processes” to assist producers who need funds to buy feed, gain access to water or buy breeding females. “These changes include quick processing of loans up to $200,000, interest-only payments for up to 24 months, up to 60-month loan amortization and […] Read more
Insurance available for lightning and fire damage
Annual crop or hay fields insured under Straight Hail Insurance have the same spot-loss coverage as Hail Endorsement
Reading Time: < 1 minute It’s summertime in Alberta, and with the season comes an increased potential for volatile storm activity. Depending on your insurance coverage with Agriculture Financial Services Corporation (AFSC), you may have protection against losses related to lightning strikes and accidental fires. “Agriculture is filled with unpredictable events, including the weather,” said Ken Handford, senior product co-ordinator. […] Read more
Farmers a majority on AFSC board
Reading Time: < 1 minute The board of Agriculture Financial Services Corporation has three new members, including two farmers: Andre Harpe, a crop producer from Valhalla Centre, and Ross Bricker, a cattle producer from Didsbury. They are joined on the board by Foothills accountant Michael Howden. There are two other farmers on the seven-person board: Pine Lake cattle producer and […] Read more
Premiums soar after crop insurer hit by $2.7-billion loss
Higher crop prices are driving a big part of the 37 per cent (or higher) hike, but drought hit hard, too
Reading Time: 4 minutes The cost of annual crop insurance is soaring by an average of more than 37 per cent this year — and many farmers could be facing an even higher bill. “An average 1,500-acre Alberta farm growing a mixture of crops will see increased premium costs of approximately 54 per cent for annual insurance and hail […] Read more
Premium discount for crop insurance being axed following record payout
After paying out $1.5 billion for crop losses last year, insurer says 20 per cent reduction won’t continue
Reading Time: 4 minutes Alberta’s crop insurer will pay out a record amount in claims — and that means the 20 per cent premium discount is being scrapped. Eleven months ago, Agriculture Financial Services Corporation announced it was not only cutting premiums by one-fifth, but would keep the discount for five years barring a “significant wreck.” But that’s exactly […] Read more
Kelly Smith-Fraser new AFSC chair
Reading Time: < 1 minute Pine Lake rancher and former Alberta Beef Producers chair Kelly Smith-Fraser has been appointed chair of Agriculture Financial Services Corporation’s board of directors. “Kelly Smith-Fraser is well known in Alberta’s agriculture industry as a smart, driven leader,” Agriculture Minister Devin Dreeshen said in a news release. Smith-Fraser has also served on the boards of Results […] Read more
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