The window is now open for Saskatchewan cow-calf producers to access market price protection for their spring born calves. The Western Livestock Price Insurance Program offers calf price insurance from February 3, 2015, to May 28, 2015.
The calf price insurance is for calves born in the spring and marketed in the fall. The program allows the producer to lock in market price protection and avoid unexpected declines. This is an opportunity to protect against volatility and price variability while still leaving the potential to benefit from even stronger calf prices in the future.
Producers purchase price insurance policies through an online process. To access the website producers need to contact their local Crop Insurance office and complete an application. Once approved producers will be able to review coverage, premiums and purchase price insurance policies from their computer.
When purchasing a policy a producer will determine the estimated sale weight of their livestock and match a policy length to the time they expect to sell. Based on that information the producer will then select their coverage and pay their premium, which provides a protected market floor price. If the cash market is below the selected coverage during the last four weeks of the policy, a claim can be made. Producers are also not required to sell the livestock at the time the policy expires.
While there is a specific window of opportunity to purchase calf price insurance, the feeder, fed and hog price insurance can be purchased year-round.
Producers can get more information by visiting their local Crop Insurance office or online at www.wlpip.ca.
