Governments invest in new usage-based insurance product

Feb 16, 2022

The governments of Canada and Manitoba are investing $253,600 through the Canadian Agricultural Partnership (CAP) to develop a new usage-based insurance (UBI) product, in collaboration with Dairy Farmers of Manitoba (DFM), to respond to needs expressed by forage crop growers and other stakeholders in a 2020 review of forage insurance programs.

“The forage and livestock sectors in Manitoba have been vulnerable in times of substantial forage shortages, as was the case during last summer’s drought conditions, and traditional risk management and insurance methods used for other crops do not always work well for their specific needs,” said Manitoba Agriculture Minister Derek Johnson. “We are pleased to work with industry to develop this ground-breaking insurance product that will help forage growers better meet operational challenges, especially under extraordinary circumstances.”

The province will enter a two-year contribution agreement (2021/22 to 2022/23) with DFM to provide up to $253,600 in CAP-Ag Action Manitoba Strategic Initiatives (industry-led) federal flow-through funding. The project will be led by DFM in partnership with Manitoba Beef Producers and four additional producer organizations.

“Dairy Farmers of Manitoba is pleased to work with the Canada and Manitoba governments and agriculture sector to support the development of this innovative UBI product that will benefit forage growers throughout the province,” said David Wiens, chair of Dairy Farmers of Manitoba. “Using leading-edge artificial intelligence, the product will measure and predict forage crop yields automatically and in near-real time based on satellite remote sensing, weather and geophysical data.”

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Video: US Soy: Pig growth is impaired by soybean meal displacement in the diet

Eric van Heugten, PhD, professor and swine extension specialist at North Carolina State University, recently spoke at the Iowa Swine Day Pre-Conference Symposium, titled Soybean Meal 360°: Expanding our horizons through discoveries and field-proven feeding strategies for improving pork production. The event was sponsored by Iowa State University and U.S. Soy.

Soybean meal offers pig producers a high-value proposition. It’s a high-quality protein source, providing essential and non-essential amino acids to the pig that are highly digestible and palatable. Studies now show that soybean meal provides higher net energy than current National Research Council (NRC) requirements. Plus, soybean meal offers health benefits such as isoflavones and antioxidants as well as benefits with respiratory diseases such as porcine reproductive and respiratory syndrome (PRRS).

One of several ingredients that compete with the inclusion of soybean meal in pig diets is dried distillers grains with solubles (DDGS).

“With DDGS, we typically see more variable responses because of the quality differences depending on which plant it comes from,” said Dr. van Heugten. “At very high levels, we often see a reduction in performance especially with feed intake which can have negative consequences on pig performance, especially in the summer months when feed intake is already low and gaining weight is at a premium to get them to market.”

Over the last few decades, the industry has also seen the increased inclusion of crystalline amino acids in pig diets.

“We started with lysine at about 3 lbs. per ton in the diet, and then we added methionine and threonine to go to 6 to 8 lbs. per ton,” he said. “Now we have tryptophan, isoleucine and valine and can go to 12 to 15 lbs. per ton. All of these, when price competitive, are formulated into the diet and are displacing soybean meal which also removes the potential health benefits that soybean meal provides.”