Expedient moves have been made that should benefit the regional beef industry.

An Eastern Livestock Price Insurance Program (LPI) plan was preeminent when the Atlantic Ministers of Agriculture met in P.E.I. in late January. They discussed the significance of having a risk-management option for livestock producers that could effectively manage price risk and volatility of markets (page 6).

Dean Manning, chair of the Maritime Beef Council, said he is “optimistic that these talks will result in LPI being available to Maritime producers for the 2024 season.” He said the MBC “was thankful for the hard work by all involved to get to this point, and for the continued efforts to make this a reality.”

Increasing Prince Edward Island’s beef production was one of 22 recommendations the Standing Committee on Natural Resources and Environmental Sustainability made to the

provincial legislature late last year (Rib Ends, page 8).

And a Nova Scotia Beef Initiative was introduced Jan. 18 to increase production and to help the industry stay competitive, connected, and consumer focused (Rib Ends page 8).

But higher feeder prices, operating costs, and interest rates have all increased significantly, according to Bruce Andrews’ Market Report on page 16. The vice-president of operations at Atlantic Beef Products Inc. notes that producers and processors will have to make sound business decisions to increase the likelihood of being profitable this year.

An Eastern Livestock Price Insurance Program plan and provincial programs will certainly be expedient steps in that direction.

But they’re not silver bullets. The beef industry still has to face inauspicious weather patterns in 2024, and block the accession of the United Kingdom to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, deal with the carbon tax bill amendments, “Product of USA” labelling regulations, and numerous other challenges.