Price Protection Insurance for Beef Producers in Nova Scotia

February 20, 2025
Nova Scotia Department of Agriculture – News Release

Nova Scotia’s beef producers can now get financial protection through the Maritime Livestock Price Insurance Pilot Program. The new business risk management tool will allow producers to purchase price protection on beef cattle in the form of an insurance policy to protect against unexpected market declines.

“Our government, alongside our Maritime partners, is taking action to reduce risk and make our region a better place for our beef farmers to do business,” said Greg Morrow, Minister of Agriculture. “The new Maritime Livestock Price Insurance Pilot Program is an important investment to support the growth of the beef sector in Nova Scotia and stabilize livelihoods for our farmers.”

The Maritime Livestock Price Insurance Pilot Program is a regional initiative scheduled to run until March 2026. It will complement existing business risk management programs available to the agriculture industry through the partnership between the Department of Agriculture and Agriculture and Agri-Food Canada.

The administration of the program is cost-shared by the participating provinces and the Government of Canada. Producers purchasing insurance coverage pay the insurance premiums.

Nova Scotia’s beef farmers brought in more than $42 million in farm cash receipts in 2023. Nova Scotia has more than 630 registered farmers who report income from beef.

Read the full News Release here!

More information on Maritime Livestock Price Insurance can be found here.