|By Marketwired .||
|January 24, 2014 03:59 PM EST||
CAMROSE, ALBERTA -- (Marketwired) -- 01/24/14 -- Agriculture and Agri-Food Canada
An innovative new livestock price insurance program will be available this spring to help cattle and hog producers in Western provinces manage price risks faced by the industry. Federal Agriculture Minister Gerry Ritz, Saskatchewan Agriculture Minister Lyle Stewart, Alberta Agriculture Minister Verlyn Olson, and MLA Donna Barnett (Cariboo-Chilcotin), on behalf of British Columbia Agriculture Minister Pat Pimm unveiled the new price insurance program today at the Canadian Bull Congress in Camrose.
The four-year Western Livestock Price Insurance Program (WLPIP) pilot is a unique collaborative arrangement between the federal government and the Western provinces to enhance risk management options available to the livestock industry. The pilot will help livestock producers protect themselves against unexpected price declines by allowing them to purchase insurance on an insured price selected by the producer from the available coverage levels. Premiums fully funded by producers.
Alberta introduced price insurance in 2009 for their cattle and hog producers sectors. This initiative expands the Alberta program to a regional model, opening it up first to livestock producers in British Columbia and Saskatchewan.
Livestock producers can expect to receive WLPIP information in March from their provincial agriculture offices.
-- Alberta's Agriculture Financial Services Corporation will be the central administrative body for the Program to maximize administrative efficiencies. -- In Saskatchewan, the Saskatchewan Crop Insurance Corporation will be the lead customer service delivery agent for the Program. -- Federal and provincial governments will cover administration and delivery costs for the pilot WLPIP through Growing Forward 2's AgriRisk Initiatives - Administrative Capacity Building. The federal government will also provide deficit financing for the pilot.
"This historic initiative is a great example of collaboration among federal and provincial governments and industry to strengthen risk management options for producers. Our Government will continue to work closely with the Provinces and industry to ensure producers have access to the tools they need to grow their businesses and our overall economy."
- Gerry Ritz, Federal Agriculture Minister
"We have been committed to working with the industry to provide price insurance for our cattle and hog producers to help them better manage risk and grow the industry. This has been a top priority for our government and I am pleased to partner with the federal government and the western provinces to offer livestock price insurance."
- Lyle Stewart, Saskatchewan Agriculture Minister
"This program was pioneered in Alberta, in partnership with producers. Expanding this insurance option to other provinces will help the Western Canadian livestock industry protect itself from significant price downturns while also ensuring the program is delivered efficiently."
- Minister Verlyn Olson, Alberta Agriculture and Rural Development
"B.C. livestock producers have expressed great interest in having more tools that help them manage their price risks and the B.C. government is proud to have worked with our partners to deliver a Western Canadian program. Providing predictable and cost effective insurance products will help our cattle and hog producers manage their businesses and focus on longer term operations."
- Donna Barnett, MLA for Cariboo-Chilcotin, on behalf of B.C. Agriculture Minister Pat Pimm
"This program gives more producers access to a solid tool to manage price and basis risk, one of the more unpredictable aspects of managing an operation. Market-based risk management is key to better managing volatility."
- Martin Unrau, President, Canadian Cattlemen's Association (CCA)
- Backgrounder - Western Livestock Price Insurance Program
- Program website - Western Livestock Price Insurance Program
- Growing Forward 2 - AgriRisk Initiatives
Western Livestock Price Insurance Program
As part of the Growing Forward 2 (GF2) framework agreement, federal, provincial and territorial (FPT) Ministers of Agriculture made a commitment to encourage the development and implementation of new risk management tools for agricultural producers, including private sector risk management tools. To this end, the federal government and Western provinces have been working in collaboration to explore the feasibility of a livestock price insurance program.
Livestock producers face a substantial risk from unexpected price declines. Unlike crop producers, who have access to production insurance under the AgriInsurance program, livestock producers have fewer risk management options available to them.
The four-year pilot Western Livestock Price Insurance Program (WLPIP) will enable livestock producers to protect themselves against unexpected price declines beyond market expectations by allowing them to purchase insurance coverage, while still being able to take advantage of favorable market conditions if livestock prices should rise. Producers will select from a range of coverage and policy options to help them manage price risk. Indemnity payments will be paid to producers if the settlement price is less than the insured price. This pilot program is actuarially sound and self-sustaining, with premiums fully funded by producers.
Alberta first introduced price insurance in 2009 for fed cattle. Since then, Alberta broadened its livestock insurance programming to include feeder cattle, calves and market hogs covering price and basis risks. Through a unique collaborative arrangement between the federal and provincial governments, Alberta's existing program will expand to a regional model, offering a voluntary, simple and easy to understand price insurance product to livestock producers across Western Canada.
Alberta's Agriculture Financial Services Corporation (AFSC) will be the central administrative body for the program, using their experience with existing programs to maximize administrative efficiencies, which will allow for a rapid implementation of the expansion to the rest of the Western provinces.
Federal and provincial governments will cover administration and delivery costs for the pilot WLPIP through GF2 AgriRisk Initiatives - Administrative Capacity Building stream, which provides assistance for the implementation of new risk management tools. Canada will also provide deficit financing for the pilot. Near the end of the four-year pilot, governments will initiate a review of program operations and management and will consider its potential beyond the GF2 framework agreement.
Western Cattle Price Insurance
Cattle price insurance is reflective of price in the producer's local market, and coverage options are designed to reflect differences in localized prices and risk for different commodities. WLPIP will help reduce producers' exposure to price and basis risk. Producers have the option of insuring their calves, feeders, or fed cattle as well as selecting only basis protection for fed cattle. A new settlement index will be created to represent Western regional markets for feeders and calves.
Western Hog Price Insurance
Hog price insurance is designed to offer coverage based on current Western Canadian market conditions. Producers decide on the level of coverage, policy length and the amount of weight to insure. Settlement is based on the monthly average price of hogs sold in several Western Canadian markets. If the market goes above the insured price, producers can still take advantage of the upside and sell hogs for that higher price.
Livestock producers can expect to receive WLPIP program information in March from their provincial agriculture office. Further information on the pilot Western Livestock Price Insurance Program is available at www.wlpip.ca.
Agriculture and Agri-Food Canada
Follow us on Twitter: @AAFC_Canada
Director of Communications
Office of the Honourable Gerry Ritz
Saskatchewan Crop Insurance Corporation
Agriculture Financial Services Corporation
Government Communications and Public Engagement
B.C. Ministry of Agriculture
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Aug. 25, 2016 02:30 AM EDT Reads: 2,117
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
Aug. 25, 2016 02:15 AM EDT Reads: 396
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Aug. 25, 2016 02:00 AM EDT Reads: 1,761
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
Aug. 25, 2016 02:00 AM EDT Reads: 1,887
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Aug. 25, 2016 01:15 AM EDT Reads: 1,594
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Aug. 25, 2016 01:00 AM EDT Reads: 1,952
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Aug. 25, 2016 12:45 AM EDT Reads: 1,899
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
Aug. 25, 2016 12:30 AM EDT Reads: 2,054
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Aug. 25, 2016 12:00 AM EDT Reads: 2,962
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
Aug. 24, 2016 10:30 PM EDT Reads: 1,446
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
Aug. 24, 2016 10:30 PM EDT Reads: 2,010
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Aug. 24, 2016 09:15 PM EDT Reads: 1,664
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Aug. 24, 2016 04:45 PM EDT Reads: 1,303
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Aug. 24, 2016 04:15 PM EDT Reads: 2,557
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Aug. 24, 2016 04:15 PM EDT Reads: 356