Livestock producers who think they have more time to repay cash advances might want to make sure they are eligible for the stay of default announced last month.
Federal agriculture minister Gerry Ritz announced the stay in Saskatoon Aug. 6. It was the second stay applicable to advances taken under the Advance Payment Program and emergency advances made available in the program year 2008-09.
It does not apply to advances in the 2009-2010 program year, which runs April 1, 2009 to March 31, 2010.
“(Advances made) from April forward aren’t covered by this stay,” said Jody Aylard, director general of Agriculture Canada’s finance and renewal programs directorate.
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She said there could be some confusion stemming from the first stay, which brought the repayment deadline for 2008-09 into line with 2009- 10. That meant payments due Sept. 30, 2009, were pushed to Sept. 30, 2010. The second stay moved the end date for cattle producers to March 31, 2012, with regular repayments to begin eight months from the start of the stay.
Hog producers have until March 31, 2013 to repay the amount.
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