Released on December 21, 2007
Agriculture Minister Bob Bjornerud announced today a new program to provide financial assistance to Saskatchewan hog and cattle producers.
The Saskatchewan Short-Term Hog Loan Program and the Saskatchewan Short-Term Cattle Loan Program will provide an estimated $90 million in funding to those who are struggling during this current price downturn.
"I have heard first-hand the difficulties that are facing our cattle and hog producers," Bjornerud said. "I am pleased to announce this assistance program to help address the current economic situation these producers face."
It is estimated the hog industry will access about $30 million in loans, while $60 million will be accessed by the cattle industry. Both sectors have been suffering from low prices brought on by an increase in the value of the Canadian dollar and very high feed grain prices.
"Our government has tried to work quickly to provide results for Saskatchewan's livestock industry," Bjornerud said. "While we know this is by no means the end of their challenges, producers can be assured their government will do everything it can to help them in a manner that minimizes trade risk."
Saskatchewan also announced today that it has signed onto the national AgriInvest and AgriStability programs, providing further assistance to livestock producers.
Applications for the Saskatchewan Short-Term Hog Loan Program and Cattle Loan Program will be made available to producers early in the New Year. Deadline for applications is June 10, 2008, for the hog program, and March 31, 2008, for the cattle program.
More information is available on the Ministry web site at www.agriculture.gov.sk.ca.
Producers with questions on the programs are invited to call toll-free 1-877-874-5365.
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For more information, contact:
Jenna Robertson
Agriculture
Regina
Phone: 306-787-2359
Email: jroberts@agr.gov.sk.ca