Agriculture and Forestry Minister Mitch Murphy today announced a new cattle marketing initiative to help stabilize producer prices. It is aimed at complementing the Canada-Prince Edward Island BSE Recovery Program which ended August 31. Under the new initiative, developed in consultation with the Prince Edward Island Cattlemen's Association, producers will receive up to $350 for steers and heifers under 30 months of age shipped for processing and $100 per head for cull cows.
"Beef producers continue to experience very weak market conditions, and this new initiative is aimed at supporting returns," said Mr. Murphy. "It is important that beef producers get through this very difficult period, and that is why the provincial government is providing additional support."
Mr. Murphy said he hopes the funds will be used for the purchase of feeder cattle.
Darlene Sanford, president of the Cattlemen's Association, welcomed today's announcement. "The Cattlemen's Association has worked with government to develop a plan to help keep producers competitive in the short term and to move the industry towards a complete recovery from BSE," she said.
Payments will be made on steers and heifers owned before May 20 of this year and sold on or after September 1. Payments will be based on a weekly average Atlantic Tender Beef Market price and a weekly reference price. Payments will be made on cull cows owned on May 20 and sold after October 1. Shipping numbers must be obtained for cattle shipped between September 1 and October 10, and after October 10, shipping numbers must be obtained before shipping. The numbers can be obtained at 1-866-734-3276. Application forms are also available at that number or at district agricultural offices.
Applications must be submitted before November 21.