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Agriculture committee That's an average, yes.
May 12th, 2020Committee meeting
Janice Tranberg
Agriculture committee I don't have an exact amount, but I can tell you that some of my members have told me that they've actually hit losses closer to $800. This is a loss that they've never seen before, even in times of BSE. These are pretty phenomenal losses. Again, Michel, maybe you can back me u
May 12th, 2020Committee meeting
Janice Tranberg
Agriculture committee That would be correct. All the things that needed to be done to make the plant workable—they had to put partitions between people, and they had to increase space for social distancing—will slow down production. We don't know precisely, but at least in the short term, full capacit
May 12th, 2020Committee meeting
Janice Tranberg
Agriculture committee We're reaching peak right now, and you're talking about whether they can build more capacity. They can't even manage the capacity they have. You have to have finances to be able to support your cattle right now, let alone looking at building even more. To expand on the previous
May 12th, 2020Committee meeting
Janice Tranberg
Agriculture committee Well, you're asking me to look into my crystal ball. I would just say that some of the changes being looked at under business risk management are things that would help provide better liquidity and resilience. Michel, I'll give you a chance to respond.
May 12th, 2020Committee meeting
Janice Tranberg
Agriculture committee Thank you, Michel. Government support to manage agricultural risk comprises four programs. These include AgriInsurance, AgriInvest, AgriRecovery and AgriStability. Together, they provide about $1.6 billion annually to producers, but very little of that is for, or can be accesse
July 8th, 2020Committee meeting
Janice Tranberg
Agriculture committee Michel, I can start on this. As we've said, right now, we're already backlogged by about 130,000 cattle in western Canada. As I just mentioned, the loss that's going to cause for the cattle feeders in a best-case scenario for that 25,000 head is around $6.5 million. The set-asid
July 8th, 2020Committee meeting
Janice Tranberg
Agriculture committee Again, Michel, if that's okay with you, I can start on this and then you can take over where I have left off. As you've said, the processing sector has put a lot of measures in place to ensure that they can move the cattle through as quickly as possible. They've done a lot of wo
July 8th, 2020Committee meeting
Janice Tranberg
Agriculture committee Under AgriStability the $6.5 million in losses have already been incurred, so if it goes forward, we're looking at more increases. You're right, AgriRecovery certainly is the way we need to manage this. There has not been a lot of flexibility under AgriRecovery, and we have said
July 8th, 2020Committee meeting
Janice Tranberg