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RMP Cattle Payments Deferred Until December

BFO STATEMENT

Risk Management Program (RMP) Cattle Payments Deferred Until December

September 28, 2017 (Guelph, ON) - Over the next week, producers who are enrolled in the cattle RMP program will be receiving a letter from Agricorp explaining that Q1 and Q2 cattle payments will be deferred to Q3 in December. This decision was made by the RMP committee responsible for the cattle sector, and was based on the current volatility in the cattle market.  Before this decision was made, the committee looked at a number of payment options including, conservatively prorating Q1 and Q2 interim payments to avoid the situation of an overpayment being issued, which would have to be recovered. Ultimately, the committee believed more fulsome settlement payments when most of the uncertainty of the year is resolved would better support participants in the program.  A lower administrative expense will also direct more funds to producers who need it the most. 

BFO continues to advocate for RMP program stability and enhancements to better serve our members. We strongly believe that there is no program more important to beef farmers than the RMP program, and we continue to communicate this with our partners in government. 

If you have any questions or concerns about this decision, please contact the BFO office by phone at 1.866.370.2333 or by email at info@ontariobeef.com.


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