(Photo: Lethbridge News Now)

By Troy Gillard

$42 million

More help coming for Alberta farmers and ranchers: Kenney

May 7, 2020 | 3:50 PM

Premier Jason Kenney has announced a fed-cattle set aside program that will allow farmers and ranchers to hold on to cattle at a maintenance -feed rate so the supply of cattle can drop closer to demand.

He said 400,000 cattle are currently backed up in feedlots. The program will pay the holder on a per-head basis until the inventory is cleared, which is estimated to take about 30 weeks.

“Alberta will contribute up to $17 million through the Agri-Recovery Program,” he said.

The program is a joint venture between the federal government and the provinces with a 60-40 funding split.

Kenney said the entire program is expected to cost about $42 million in total.

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According to the premier, 40 per cent of the total Canadian beef herd is in Alberta and 70 per cent of total fed-cattle production is in Alberta.

The Government of Alberta will immediately increase the interim payment under AgriStability from 50 per cent to 75 per cent for the hog sector. This will put up to $25 million in the hands of pork producers immediately. Increasing the advance payment under AgriStability will result in the equivalent of $20 per head for pork producers enrolled in AgriStability.

The closure of most food service outlets across North America has cut the volume for french fries being consumed. In response, the Alberta government will also immediately increase the advance payment under AgriStability from 50 per cent to 75 per cent for the potato industry, to get cash in hands of potato producers immediately.