Risk Management Program
Veal

Overview

Ontario's Risk Management Program (RMP) helps producers manage risks beyond their control, like fluctuating costs and market prices. RMP for livestock w​​as 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.​​​​

Reminder

Last year, a 95 per cent coverage level was introduced as a cost-effective alternative to the existing 100 per cent coverage level.

​​​New in 2020

RMP funding increased to $150 million

Deadline extension

  • For 2020, the deadline to apply, make changes or cancel coverage is extended from April 1 to July 30, 2020. Although the deadline has been extended, you should apply or change coverage as soon as you are ready to get your coverage in place and so it is ready for when you need it.
  • For 2020, the deadline to report first-quarter sales is extended from April 30 to June 30, 2020. If you are able to submit your report earlier than June 30, please do so. Submitting early allows Agricorp to process your report and do any necessary follow-up without delaying claims.

Maximum weight increase for veal means increased flexibility

Beginning in 2020, there will be an increase to the maximum individual weight for veal coverage. The update aligns with industry changes to offer farmers more flexibility when managing their veal cattle through the supply chain.

While overweight animals will no longer be eligible for payment, the maximum live weight for all veal cattle is 769 pounds. This is an increase in coverage of 17 pounds for grain-fed veal. The maximum rail weight for all veal cattle is now 419 pounds, an increase in coverage of 9 pounds for grain-fed veal.

​Funding partners

RMP is provincially funded only, meaning the Ontario government funds its traditional 40 per cent 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 per cent funding is reflected in the payment calculation and premium rates.​​

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Ontario - Agricorp