The Rural Voice, 2006-06, Page 44News in Agriculture
Feeder finance program marks
The Feeder Finance Co-op
Program in Ontario recently
celebrated 15 years of success.
The program currently has Co-ops
in most beef producing areas of the
province and has about 750
members. What is significant is the
activity of the program over the last
15 years. In this time, the program
has supported over 2,500 producers
who have borrowed over half a
billion dollars to finance nearly
750,000 head of feeder cattle. The
program now has 19 active Co-ops
and maximum loan limits of
$125,000. Many young producers
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40 THE RURAL VOICE
15 years
under the age of 35 have benefited
from the. program, and currently
almost a quarter of the members were
in this category.
Some of the other features for the
program have been very attractive
interest rates (thanks to a Provincial
Government Loan Guarantee),•
simple application forms, no month-
ly charges, and loan payments only
when cattle are sold. Given these
features, Co-op members have
benefited from enhanced net returns.
Also, the mere presence of the Co-
ops has provided negotiating power
for all beef producers with respect to
the financing of feeder cattle. The
success of the Feeder Finance
Program has been due to diligent
directors and the supervisors and ad-
ministrators they hire to manage the
dayto-day activities of the Co-ops.
To find out more about the Ontario
Feeder Cattle Co-op Program and
your local co-op, check out
Programs on the OCA website
www.cattle.guelph.on.ca. 0
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