Alberta hog producers have another risk management tool to help them weather volatile market prices.
The Hog Price Insurance Program will help protect hog producers against unpredicted declines in Alberta hog prices over a set period of time.
It was created in conjunction with Alberta Pork and the Western Hog Exchange and will be administered by Alberta’s Agriculture Financial Services Corp.
“In purchasing an HPIP policy, the producer has a known floor price for those hogs without limiting the ability to sell them at a higher price, which is important in creating a sustainable industry,” said Alberta agriculture minister Jack Hayden.
Producers have been receptive to the idea but have also worried it wouldn’t be affordable.
