Livestock Price Insurance (LPI) strives to capture and provide producers with as much of the cash market sales as possible. Weekly reporting of cash prices by producers will directly benefit settlement calculations while contributing to the program sustainability. All data reported is confidential and analyzed for program enhancements specific to the LPI program.
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Help us significantly increase the value of our program. We only require five minutes of your time each week. Voluntarily reporting cash prices on a weekly basis will:
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Start reporting your prices
Participation is voluntary and available to all beef producers finishing cattle across British Columbia, Alberta, Saskatchewan and Manitoba. You do not need to be a current LPI program subscriber.
To register, navigate to the registration form online.
Once you are registered, you will receive weekly email reminders to report your cash price to Agriculture Financial Services Corporation (AFSC). LPI defines the Fed cash price as, “expected delivery within 30 days of price negotiation, live or rail.”
Current Settlement Process
Currently, program data is collected electronically by Canfax and transmitted to AFSC. We continue to work with Canfax as they remain an essential resource to LPI. Cash sales not reported to Canfax are not included in the data; therefore, it is valuable for producers to report cash sales to Canfax to continue generating relatable settlement prices. For more information on settlement methodology, click here.
Incorporating Fed Cattle Price Reporting Program Data
After sufficient analysis is complete on reported pricing data, LPI will notify subscribers when it will be included in the settlement index.
Fed Cattle Price Reporting Program Origin
Industry consolidation and shifts in marketing have evolved through the years creating a different risk management dynamic since the time of program creation. In 2017, the Western Livestock Price Insurance Program, now known as LPI, conducted a third-party review of all programs – gathering valuable program feedback from stakeholders and producers.
Thinning of Fed cash market data reported to LPI and potential delays in settlement prices is a common producer concern. These delays have varied in length, some only affecting the current week, others lasting for a few weeks.
The Alberta Cattle Feeders Association and the Saskatchewan Cattlemen’s Association, reached out to AFSC to research the possibility of voluntary price reporting to capture as much of the cash market sales as possible. A pilot project of voluntary price reporting was conducted and ran for 18 consecutive weeks, consisting of six active cattle feeders. The pilot was deemed very successful as all members actively participated each week, which resulted in an increase in data available to LPI.
Encouraged by the data received, LPI continued with this initiative to collect producer cash data from all willing producers across all four western provinces, specifically using data falling within its definition of cash price.
Give us your Feedback
LPI is pleased to continue providing a risk-management option to cattle feeders in western Canada. We appreciate your support of this initiative and invite you to contact us with any questions or concerns.