Beef Farmers of Ontario is welcoming changes to the provincial Feeder Cattle Loan Guarantee Program.
The loan limits under the program have been doubled - going to 500 thousand dollars for eligible existing members and 100 thousand dollars for new members.
The program provides low-interest loans to beef farmers through 18 co-operatives.
The Ontario government backs the program with a loan guarantee.
BFO points out that guarantee has never been used in the program's 25 year history.
Feeder Finance Cooperative President Reg Campbell says strong prices over the last 18 months have made it tough for producers to maintain their herd sizes with the previous loan limits.
BFO President Bob Gordanier points out it's not only cattlemen who benefit from this change.
He says it will also encourage supply for processors and for the growing consumer consumer demand for beef.
