Nova Scotia’s beef producers can now get financial protection through the Maritime Livestock Price Insurance Pilot Program. The new business risk management tool will allow producers to purchase price protection on beef cattle in the form of an insurance policy to protect against unexpected market declines.

“Our livestock producers are an integral part of our agriculture sector in the Maritimes, and like other commodities, they can face ever-changing market prices. This pilot program will provide protection from sudden unexpected price drops so producers can better manage risks, grow their business, and continue to supply top-quality products to Canadians and folks around the world.”

- The Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food

“Our government, alongside our Maritime partners, is taking action to reduce risk and make our region a better place for our beef farmers to do business. The new Maritime Livestock Price Insurance Pilot Program is an important investment to support the growth of the beef sector in Nova Scotia and stabilize livelihoods for our farmers.”

- Greg Morrow, Agriculture Minister, Nova Scotia

"We look forward to seeing the Livestock Price Insurance program bringing financial protection to our Nova Scotia beef producers. This will provide beef producers an option to purchase insurance on price protection for their beef cattle, which will greatly help if there is an unforeseen market disruption. With the large investment producers have made in their beef operations today, a wider range of business risk management tools available to them can help when market disruptions take place."

- Dean Manning, Chair of the Maritime Beef Council.

“This is the kind of support beef producers need. We are always trying to find ways of helping farmers mitigate their risk in the marketplace. The new Livestock Price Insurance program will do just that, by providing financial protection for Nova Scotia beef producers.”

- John Vissers, Chair of Nova Scotia Crop and Livestock Insurance Commission

"We are pleased to see livestock price insurance become available, as it is a key addition to the suite of business risk management programs that support cattle producers in the province. This initiative provides an important safety net, helping farmers manage market volatility and protect their operations for long-term sustainability." 

- Alicia King, President of Nova Scotia Federation of Agriculture

• Nova Scotia joins New Brunswick and Prince Edward Island in the Maritime Livestock Price Insurance Pilot Program, announced in June 2024.

• There is a similar program for western Canada that helps producers in Alberta, British Columbia, Saskatchewan, and Manitoba.

• The Nova Scotia Crop and Livestock Insurance Commission will offer the insurance pilot program. 

• Program outreach and delivery during the pilot will be provided through a partnership with Agri-Commodity Management Association.

Associated links

• Nova Scotia Crop and Livestock Insurance Commission
• Livestock Price Insurance
• Agriculture and Agri-Food Canada's business risk management programs
• Nova Scotia Beef Initiative

For media:

Annie Cullinan
Director of Communications
Office of the Minister of Agriculture and Agri-Food
annie.cullinan@agr.gc.ca

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Deborah Bayer
Communications Advisor
Nova Scotia Department of Agriculture
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Deborah.Bayer@novascotia.ca