Ontario's Risk Management Program (RMP) helps producers manage risks beyond their control, like fluctuating costs and market prices. RMP for livestock was designed in consultation with representatives of the cattle, hog, sheep and veal industry in Ontario. RMP for livestock works like insurance to help Ontario producers offset losses caused by fluctuating commodity prices and production costs. Participants pay premiums based on their insured production and their chosen coverage level.
To give farmers more time and flexibility to make decisions, the government of Ontario has extended the 2023 deadline to apply or make coverage changes to
June 30, 2023.
RMP is provincially funded only, meaning the Ontario government funds its traditional 40% share. Producers pay part of the premium cost and none of the administration cost. Administrative costs are fully funded by the provincial government. The 40% funding is reflected in the payment calculation and premium rates.