Ontario Corn Fed Beef Risk Management Fund
The Ontario Corn-Fed Beef risk management fund is a new business risk management program that will be developed and operated by industry. The Ontario Cattle Feeders' Association will administer the fund.
Business risk management programs protect farmers by helping them manage risks from income declines due to events beyond their control. Some events are market-related and others are related to natural events, such as drought, flooding, pests or diseases. These programs work like insurance to provide support to farmers when input prices are high and market prices are low.
The Ontario Corn-Fed Beef risk management fund is an innovative approach to business risk management:
- It supports the marketing of a premium Ontario product, all the way from the farm to the family dinner table.
- It will be developed and operated by the industry - the program will use a professionally managed fund to cooperatively benefit an entire sector.
- It supports the province's local food strategy by helping producers market their products based on where or how they are made.