Saskatchewan’s beleaguered hog producers are now eligible for advance payments on their 2009 AgriStability.
The provincial and federal governments on Wednesday announced hog farmers in the province can now get Targeted Advance Payments (TAPs) of up to 75 per cent of their estimated AgriStability payment.
Eligible producers are to receive a letter with information on the amount of their TAP and how to apply, the province said in a release.
“While the AgriStability program is in place to assist in covering the negative returns, payments are often a year or more after the financial loss has occurred,” SaskPork president Joe Kleinsasser said in the release.
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“We are very pleased the federal and provincial governments understand the need for immediate cash flow to producers and are providing the 2009 TAP to help put cash into the hands of producers.”
Neither government released the expected number of eligible producers or the budget available for TAPs.
TAPs are among several programs with which the federal government and provinces expect to make payments from existing programs available earlier.
The federal Advance Payments Program (APP) was changed last year to provide farmers with “quicker and easier access to cash advances,” the government said. Later, on Jan. 23, the government announced a stay of default for APP advances issued to hog and cattle producers during 2008-09.
The federal government in August rolled out its strategy to restructure the hog industry, offering incentives for producers to exit the hog sector and loans for those who want to restructure their businesses.
The new loans, however, are to be first used to reimburse any outstanding APP emergency advances under the 2008-09 stay of default, assuming the borrowing farmer holds an APP advance.
