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HomeMy WebLinkAboutTimes Advocate, 1999-06-30, Page 25Wednesday, June 30, 1999 AliAlter Times -Advocate 2 Farm news Quicker access to funds for Canada's farmers OTTAWA - Agriculture and Agri -Food Minister Lyle Vanclief today announced a series of measures that will offer quicker access to the $1.5 -billion Agricultural Income Disaster Assistance (AIDA) pro- gram and will see an additional $117 million made accessible for the country's farmers through the Net Income Stabilization Account (NISA) program. Farmers will be eligible for an advance payment of up to 60 per cent under the 1999 AIDA program. Farmers short of cash could be eligible to receive both a payment for the 1998 program and an advance on the 1999 program in the next few months. Producers who have not done so are encouraged to submit their 1998 AIDA applications before the July 31 deadline. As many as 41,000 more farmers across the coun- try will have improved access to their NISA accounts as a result of the changes. NISA changes will see the minimum income trig- ger amount increase immediately from $10,000 to $20,000 for an individual and from $20,000 to $35,000 for farm families. Another measure will help expanding operations more easily access their accounts. The changes will also include a provision which will allow a NISA withdrawal and deposit in the same year. "The measures we are announcing today will put money more quickly into the hands of Canada's farmers to help them get through what has been a very difficult year," said Mr. Vanclief. It will also be easier for producers to use the interim withdrawal feature of NISA. There will be more time allowed (a full year instead of three months) for producers to repay funds to their accounts when they withdraw more than they are eligible for under the. payment triggers. When they are not able to repay, they will be allowed to re- enter the program sooner than they can under the current rules (two years instead of three). Mr. Vanclief discussed all these changes with his provincial counterparts and has obtained agree- ment on moving ahead. The federal government will continue working with provincial and farm leaders on how federal - provincial farm financial programs, in particular AIDA, can be improved. The AIDA program will be assessed in the coming months to look at improve- ments for 1999. "We are here to work on behalf of the Canadian farmer in good times and bad," said Mr. Vanclief. "And as in all difficult situations, the Government of Canada will continue to work with the provincial governments to monitor developments and will remain open to suggestions on how best this situa- tion can be addressed." Brussels LivestockYard sales report The total receipts at Brussels Livestock for the week ending June 25, were 1688 head of cattle, 336 lambs and 36 goads• Fed steers and heifers sold on a steady trade with cows selling $2.00 higher. On Thur*clay veal. and lambs sold on a $ery strong market. All weights of stockers were $2.00 higher. • Thee were 434 steers on offer selling from 93.00 to 98.00 to the high of 107,00. One gold steer con- signed by Dave Watson, Thedford weighing 1430 lbs. purchased by Dominion Meat Packers for 107.00 with his over- • all offering of 27 steers averaging 1315 lbs. sell- ing for an average of 94.87. One black steer con- signed by Simon B. Martin, Clifford weighing 1070 lbs. purchased by Dominion Meat Packers for 105.00 with his over- all offering of two steers averaging 1027 lbs. sell- ing for an average of 99.24. .� r. Ten steers consigned by Lauderlea Farms, Listowel averaging 1317 lbs. sold for an average of 99..03 with sales to 101.50. Eleven steers con- signed by Lorne Benedict, Kerwood aver- aging 1368 lbs. sold for an average of 97.56 with sales to 102.25. Ten steers consigned by Kada Farms, Bluevale averaging 1392 lbs. sold for an average of 96.67 with sales to 101.50. Thirty-nine steers con- signed by Cunningham Farms Lucan averaging 1356 lbs. sold for an average of 95.92 with sales to 99.25. Eighty-four steers con- signed by Bender Farms, Hensall averaging 1260 lbs. sold for an average of 94.70 with sales to 97.75. Twenty-two steers con- signed by Phillip Hall, Ailsa Craig averaging 1360 lbs. sold for an average of 93.44 with sales to 97.5p. r Eighteensteers con- signed by Terry McCarthy, Dublin aver- aging 1485 lbs. sold for an average of 92.28 with sales to 96.50. Seven steers consigned by Ron Tullock, Meaford averaging 1439 lbs. sold .for an average of 91.52 with sales to 96.00. There were 177 heifers on offer selling from 93.00 to 98.00 to the high of 98.50. Three limo heifers con- signed by Don McAllister, Chesley aver- aging 1305 lbs. pur- chased by MFI Packers sold for 98.50 with his overall offering of 15 heifers averaging 1254 lbs. selling for an aver- age of 94.84. One gold heifer con- signed by Mux Lea Farms, Woodstock 'weighing 1210 lbs. pur- chased by Dominion Meat Packers for 98.00 with their= overall offer- ing of 14 heifers averag- ing 1254 lbs. selling for an average of 94.54. Six heifers consigned by Dave Bowles, Brussels averaging 1121 lbs. sold for an average of 95.77 with sales to 96.75. One black heifer con- signed by Cliff Campbell, Stratford weighing 1175 lbs. sold for 95.75. One limo heifer con- signed by •Harold Schmidt, Hanover weighing 1215 lbs. sold for 95.50. Four heifers consigned by Andy Vanderveen, Walton averaging 1105 lbs. sold for an average of 95.43 with sales to 97.00. Six heifers consigned by Karl Terpstra, Mitchell averaging 13.18 lbs. sold for an average of 93.30 with sales to 97.50. Eleven heifers con- signed by. Tom Hardy, Lucan averaging 1150 lbs. sold for an average of 91.12 with sales to 97.50. Six heifers consigned by Terry Dalton, Lucknow averaging 1158 lbs. sold for an average of 89.26 with sales to 96.75. Five heifers consigned by Todd Konency, Walkerton averaging 1405 lbs. sold for an average of 86.34 with sales to 96.00. There were 173 cows on offer selling: D1 and D2 cows, 56.00 to 60.00 to high of 81.00. D3 cows, 52.00 to 56.00. D4 cows, 45.00 to 50.00. Two red cows con- signed by Brinslee Farms, Ailsa Craig, aver- aging 1538 lbs. sold for an average of 70.23 with sales to 81.00. One hol. cow consigned by Mel Greig, Gorrie weighing 1295 lbs. sold for 73.50. # Two hol. cows con- signed by William Willis, Wingham averaging 1275 lbs. sold for an average of 64.27 with sales to 72.00. There were 6 bulls on offer selling from 57.00 to 65.00 to the high of 82.00. One limo bull con- signed by John J. Shetler, Auburn weigh- ing 2240 lbs. sold for 82.00. One hol. bull consigned by Albert •Rechsteiner, Listowel weighing 2145 lbs. sold for 70.50. 'There were 214veal on offer: Beef: 90.00 to 135.004. Hol: 75.00 to 90.00. Plain Hol: 60.00 to 75.00. Two veal consigned by Melvin B. Martin, Linwood averaging 618 lbs. sold for an average of 126.78 with sales to 135.00. Two veal consigned by Decroft Farms Ltd., Clinton averaging 650 lbs. sold for an average of 123.38 with sales to 127.50. Eight veal consigned by John Martin, Lucknow averaging. 679 lbs. sold for an average of 88.98 with sales to 126.00. Note: Over 700 lbs. veal will be sharpy' dis- counted due to a new government ruling of hides having to be removed. Lambs: Under 50 lbs. 142.50 to 145.00. 50 to 65 lbs. 130.00 to 167.50. 65 to 80 lbs. 137.50 to 172.50. 80 to 95 lbs. 105.00 to 145.00. 95 to 110 lbs. 112.50 to 117.00. Sheep: 55.00 to 69.00 Goats; $26.00 to $110.00 Stockers: 400 - 499 lbs. 121.00 to 146.00. 500 - 599 121.00 to 151.00. 600 - 699 109.00 - 130.00. 700 - 799 100.00 - 124.00. 800 - 899, 101.00 - 116:50. 900 and over 91.50 - 107.50. Heifers: 400 - 499, 107.00 - 126.00. 500 - 599, 97.00 - 119.50. 600 - 699, 94.00 - 110.50. 700 - 799, 1003.00 - 112.00. 800-899, 93.50 - 108.00. 900 and over 87.50 - 106.50. Plain stockers 48.00 to 65.00. Denfield Livestock Sales The market for June 22 traded strong at $1-$2 higher on all classes of fed cattle. American orders -._._ were strong and cows traded higher. Norman Hodgins, Parkhill sold 29 steers, average • weight 1334, average price 97.23 to a high of 103.75 purchased by M.G.I. Packers. Bob Hodgins, Lucan sold 15 steers, average weighs 1374, average price 97.'8 to a high of 109.00 put, chased by M.G.I. Packers. Gord Hardy, Lucan sold 16 steers, average weighl '1371, average price 95.35. Norman Lewis, Ailsa Craig sold 11 steers, average weight 1435, average price 95,00. Rick Davidson, Thedford sold 3 steers, average weight 1242, average price 98.77. I)ave Major, Thorndale sold 24 steers, average weight 1280, average price 93.80. . Wyman O'Neil, Mooretown sold 10 heavy steers, averaging 1473 at 94.57. Jim Scott, Lucan sold 11 heifers averaging 1171 at 90.42. Choice steers: 95.00-100.00, sales to 109.00; Good steers: 90.00-95.00; Plain steers: 83.00-88.00; Choice Exotic Cross heifers: 95.00-100.00; Good heifers: 90.00-95.00; Common and medium heifers: 85.00- 90.00; Heifory cows: 65.00-78.00; Good cows: 60.00- ':. .00.. Canners and cutters: 50.00-60.00; Shells: .00-45.00; Direct to packers cows over 600 lbs.: 5.00; Direct to packer bulls: 120.00; Sows: 38.00- .00; Boars: 20.00-25.00. Increased lending for FCC REGINA - Farm Credit Corporation (FCC) approved , , $1.6 billion in loans to primary producers and agribusi- ness in 1998-99, bringing the total loan portfolio to $5.8 billion, according to the recently released annual report. The Corporation's portfolio grew by almost 10 per cent from $5.3 billion in the previous year. "This is the sixth consecutive year our portfolio has increased, a positive indication that we are listening to customers and offering products and services that address specific and relevant needs in today's agricul- tural community. As well, the growth indicates that, despite the downturn in specific sectors, farmers are continuing to invest in the future by diversifying and expanding their operations," says John J. Ryan, President and Chief Executive Officer. "FCC has made a concerted effort to develop a solid financial position in order to serve farmers through the ups and downs of the agricultural economy," Ryan says. "In the past year, many sectors fared well but others, such as cereal grains and hogs, experienced dramatic price drops. This year producers will face challenges including the continuing downturn in cereal grains and abnormally wet conditions in eastern Saskatchewan and western Manitoba. We are working with customers on an individual basis across the country to help them deal with these situations." FCC is focused on offering customized financing solu- tions. In 1998-99, the Corporation introduced a product line called AgriStart to help developing farmers start or expand an agricultural operation and to assist in the transfer of the family farm. FCC also expanded the Plant Now - Pay Later loan to apply to all fruit growers across Canada. "The Government of Canada is committed to the devel- opment of the future generation of Canadian farmers. FCC plays an important role in helping young farmers establish themselves in the agricultural industry," says Lyle Vanclief, Minister of Agriculture and Agri -Food. The Corporation has increased lending services to small and medium-sized agribusiness in support of the growing number of primary producers expanding into that sector and to help strengthen the agricultural industry as a whole. As well, FCC recognizes that a thriving agribusiness sector opens new market opportu- nities for primary producers and enhances rural Canada by creating economic growth and jobs. In 1998-99, agribusiness represented about seven per cent of new lending. At the same time, primary producers continue to be FCC's major focus with 93 per cent of new lending. FCC has strengthened its network of alliances and partnerships to enhance customer service. Last year, the Corporation offered flexible financing packages to a variety of primary producer and agribusiness customers through alliances with other financial institutions in both the public and private sectors. The Corporation also works in partnership with not- for-profit and charitable organizations to enhance the quality of life in communities where FCC customers and employees live and work. Last year, FCC launched a national community relations program and joined the Canadian Centre for Philanthropy's Imagine group of companies that are committed to dedicating one per cent of pre-tax revenues to such activities.