Beef producers in the Maritime provinces will get the price protection tool they’ve advocated for for years.

Producers in New Brunswick and Prince Edward Island, and soon Nova Scotia, will have access to a program that will allow them to purchase insurance on price protection for their beef cattle in case of an unforeseen market disruption.

The Maritime Livestock Price Insurance Pilot Program will be a two-year pilot project.

The lack of a program has meant more risk for Maritime beef farmers and challenges for young farmers to get bank loans without a way to mitigate that risk.

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