Alberta livestock producers are being offered $150 million in bailout money by the province, with another $150 million promised if cattlemen will comply with the age and country-of-origin verification needed to certify Alberta livestock production as disease-free.
The National Meat Association (NMA) reports that Alberta livestock producers have been hard hit by high feed and fuel costs, lower prices and the soaring Canadian dollar. Alberta has the largest beef herd in the country.
The pork industry has been hit so hard that the federal government plans to indemnify pork producers to destroy 150,000 sows. Alberta also announced June 6th that it is spending $56 million this year to create a livestock and meat agency that will implement a new long-term plan, according to the Canadian Press.