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FCC Supports Cattle Producers with Replacement Heifer Program

Farm Credit Canada (FCC) has announced a new FCC Replacement Heifer Program to help Canadian cattle producers in maintaining or expanding their herds.

The Canadian beef cattle inventory was listed by Statistics Canada at 10.3 million head earlier this year, which is a decline by 4% since 2017. The cattle sector contributes over $24 billion annually to the economy and plays a critical role in maintaining the health of grasslands. FCC want to ensure that cattle ranchers have access to the financial resources that they need to plan for the future.

"The drought conditions this summer affected a large cattle producing area in Western Canada and right now ranchers are making decisions about how to best manage their herds. The Heifer Replacement Program will help reduce cash flow pressures for those who want to maintain or grow their herd." - Sophie Perreault, FCC Chief Operations Officer

The program consists of a loan with a maximum two-year period of interest only and a maximum life of seven years. Variable interest rates will be capped at prime plus 1.5%, and loan processing fees will be waived.

Beef producers are encouraged to contact their FCC Relationship Manager or their FCC Livestock Alliance partner for details. Producers can do this by contacting their local office or the FCC Customer Service Centre at 1-888-332-3301.

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