CALGARY – Alberta’s livestock security program is under review with regulatory changes expected by fall before calf sales begin.
Cliff Monroe, of Alberta Agriculture, said the security program’s review should be completed at the end of June.
Recommendations for change will go to the agriculture minister by mid-August.
Once new, streamlined rules are in place, the other western provinces are welcome to join, said Monroe.
Currently all provinces require the same bonding level for livestock dealers but if one goes bankrupt, the bond is often not high enough to cover the losses, Monroe said.
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Claims getting higher
While most claims are between $5,000 and $10,000, Alberta recently settled a $1.3 million claim against its security fund.
British Columbia recently met with Alberta officials to discuss buying into its four-year-old
program.
The B.C. Cattlemen’s Association is considering using $50,000 from the Cattle Horn Fund toward establishing a vendor security fund, said Mark Grafton, chair of the association’s livestock industry protection committee.
The Alberta program is funded by a levy of 10 cents a head for cattle or horses sold in Alberta to a licensed livestock dealer where brand inspection has happened and the seller did not extend
credit.
If the buyer defaults on payment, the seller reports the situation to Alberta Agriculture regulatory services within 24 hours of realizing a default occurred.
The programs offers 80 percent protection on claims from qualifying producers.
