Under this new program, producers will receive a payment of $159 per animal slaughtered between September 1, 2003 and December 31, 2004. A producer can also receive a dollar a day per animal from December 16, 2003 up to the date of slaughter, or May 24, 2004, whichever is earlier, to help offset high winter feed costs. This compensation is in addition to market prices paid to producers when they sell their cattle.

Compensation will be based on a cull rate of eight percent for beef cow herds and 16 percent for dairy herds, for animals owned by producers on September 1, 2003.

To be eligible for the program, beef and dairy producers will be asked to register their herd. Application forms will be sent to all beef and dairy producers on Prince Edward Island. For more information on this new program, contact the Agricultural Information Office at 1-866-PEIFARM (1-866-734-3276).

Mr. MacAdam said the program recognizes that beef and dairy producers have experienced a significant drop in prices for their cull animals and that this program will help alleviate some of their loss. In addition to this, producers will be eligible for assistance under the Canadian Agricultural Income Stabilization program.