2024 Cattle
premium rates
| Cattle
category
|
Unit |
Coverage level |
| 80% |
90% |
95% |
100% |
| Cow-calf |
$/head |
7.37 |
12.73 |
15.61 |
18.57 |
| Backgrounder |
$/lb. of gain |
0.0002 |
0.0030 |
0.0068 |
0.0122 |
| Feedlot |
$/lb. of gain |
0.0029 |
0.0150 |
0.0229 |
0.0319 |
The minimum annual premium per cattle category is $25.
Cow-calf premium =
premium rate x number of calves
Backgrounder and feedlot premium =
premium rate x total eligible weight gain
Payment rates
Payment rates are based on the difference between the support level and the average market price for the payment calculation period.
Support level
The support level is based on the target price multiplied by your chosen coverage level. The cost of production is calculated by OMAFRA, based on the sum of livestock purchase costs, feed costs and yardage.
For the cow-calf category, the support level remains constant for the program year. For the backgrounder and feedlot categories, support levels are calculated every week and will vary from week to week.
Market prices
Market prices for each livestock category are collected and calculated by OMAFRA.
For the cow-calf category, market prices are calculated twice per year. For the backgrounder and feedlot categories, market prices are calculated every week and will vary from week to week.
