News Applications Beef
Ag in brief: Ontario commits more support for beef cattle farmers

Ontario is increasing financing available through the Feeder Cattle Loan Guarantee Program to $500 million, nearly doubling its previous available funding (previously $260 million). The Feeder Cattle Loan Guarantee Program provides low-interest financing to support the short-term needs and long-term growth of feeder cattle cooperatives and their members. Financing is provided by private sector lenders, with 25 percent of the loan guaranteed by the Ontario government.

The government is also doubling the maximum loan a farmer can access and making other changes to better support the industry. These include administrative changes that will allow the Ministry of Agriculture, Food and Agribusiness to move funding allocations more easily between feeder co-ops to better meet producer demand.

The province is also investing in a market development program to increase domestic and international sales. Over the next four years, the government will invest $2 million in the program to support activities that enhance the competitiveness of Ontario products at home and beyond borders. Eligible activities include participating in trade shows and trade missions and welcoming potential out-of-market buyers to tour Ontario beef farms and processing facilities.

“Our province’s Grow Ontario Strategy commits to strengthening the province’s agriculture and food supply chain and increasing agri-food trade by eight per cent per year,” said Rob Flack, Minister of Agriculture, Food and Agribusiness. “The actions we’re announcing today support both of these goals and will help Ontario’s beef sector capture new opportunities now and in the future.”

• Tweet

• Funding: California’s alternative manure management program
• MSU seek farmer innovations on soil nutrient management practices