HomeMy WebLinkAboutThe Lucknow Sentinel, 1987-03-18, Page 40Pape 24
Financial programs...
• from page 23
a larger operating loan in the short run for
cash flow secruity in the long run.
Applications were due in June of 1986.
Late entrants do not get full benefits until
a year has passed; i.e., 25 percent in the
1st or 2nd quarter, 50 percent in the 3rd
quarter, 75 percent in the 4th quarter and
100 percent in the 5th quarter.
Opting out requires giving three-year
written notice followed by two years of
absence before being eligible to rejoin as a
late entrant.
a. Hogs - the market hog support price
equals costs plus 95 percent of average
margin. Premiums are required quarterly.
The farrow -to -finish operation is
straightforward. The feeder plan could have
been simple but the sow-weaner producers
wanted direct benefits. This has produced
some complex premium -sharing and
benefit -sharing schemes on a to tis basis.
The limit is 8,000 hogs per year. Fees:
feeder $2.90; direct weaner $1.02.
b. Slaughter Cattle - the support price
equals cash costs plus 50 percent of
average margin. Slaughter cattle are
registered each month. The limit is 8,000
cattle per year. Fees: $6.60 per head.
c. Feeder Calves (Cow -Calf) - the sup-
port price is set at 85 percent of the index-
ed moving average price. (Preceding 10
years adjusted for inflation). Limit is 600
cows, Fees: $7.70 per -cow.
d..Lambs - the support price is 95 per-
cent of the indexed moving average price
for the same quarter in the preceding ten
years adjusted to account for inflation and
changes in feed costs. Li9nit is 1000 ewes.
Fees: $1.40 per lamb.
Advance Payments
This is a federal program administered in
Ontairo by various farm organizations.
Corn = contact: Ontario Corn Producers'
Association, 190 Nicklin Road, Guelph, On-
tario, N1H 7L5, (519-837-1660).
Soybeans - contact: Ontario SoyaBean
Growers' Marketing Board, Box 119,
Chatham, Ontario, N7M 5L8,
(519-352-7730) .
Coverage - interest free advances are
available to the following maximums:
Individual producer $30,000; two „pro-
ducers in a partnership or corporate farm
$60,000; three or more producers in a part-
nership or corporate farm $90,000.
-husband/wife, father/son,
brother/brother and other suchcombina-
tions may qualify as partnerships. Check
for details.
- maximum are across all crops covered
under the program (example—if an in-
dividual receives $20,000 for corn, he/she
is only eligible for $10,000 for soybeans,
etc.
Repayment - normally advance is
deducted by the buyer and submitted to
the administering organization if the
organization does not handle the
payments.
Application - each organization has its
own procedures and deadlines. Contact the
particular organization for details.
Taxation - the advance is considered to
be a loan. rt is not taxable until the crop is
sold and payment is received.
Ontario farmers
Factsheet Agdex No. 870, available from
the Ontario Ministry of Agriculture and
Food Office, provides, a summary of
assistance progrms available. The fact,
sheet, as well as the above printed infor-
mation will be updated frequently (i.e.
compensation for damage, livestock pro-
grams, fuel tax refund, etc. are covered in
the Agdex) .
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