Producers purchase coverage for one up-front premium on a ‘floor price’ for livestock. Coverage is based on market-driven factors, and settlement of policies is based directly on average Western Canadian cattle markets (not your selling price).
The insured ‘floor price’ protects against the market being lower than your insured price when the policy expires. If the market is below your insured price, you’re paid an indemnity; if the market goes above the insured price, you can still sell your livestock for the higher market price.
LPI settlement prices are calculated weekly for each cattle program and are designed to reflect current Western Canadian market prices.
LPI Programs
Calf
LPI-Calf policies are offered in the spring and cover the price risk a cow-calf producer faces selling calves in the September to February markets. The policy accounts for factors that impact calf prices, including the futures market, the Canadian dollar, basis, and the price of barley.
- Designed for cow-calf producers to purchase policies from February to June;
- Policies expire 16 to 36 weeks after purchase of coverage; and
- Settlement price is based on the average price of a 600 lb calf, derived from current sales data from auction markets and electronic sales data in Saskatchewan and Manitoba.
Feeder
LPI-Feeder policies for feeder cattle are intended for backgrounded animals. The policy provides flexible, market driven, simple price insurance to protect against declines in the market.
- Designed to insure feeder cattle using a forecasted market-driven price;
- Policies expire 12 to 36 weeks after purchase of coverage; and
- Settlement is based on the average price of an 850 lb steer, derived from current sales data from auction markets and electronic sales data in Saskatchewan and Manitoba.
Fed
LPI-Fed policies are a market-driven program. The policies take the difficulty out of managing all three risks that producers face (price, currency, and basis) and combines them into one product.
- Available for fed cattle intended for sale, policies expire 12 to 36 weeks from the date of purchasing coverage; and
- Settlement price is based on the weekly Alberta Fed Cattle Price Settlement Index established using CanFax data.
Apply for Livestock Price Insurance
To apply for a Livestock Price Insurance policy in Manitoba:
- Complete the Application for Identification and Subscription Numbers form (available at www.LPI.ca or MASC Service Centre).
- Return your completed application to an MASC Service Centre.
- Register for weekly premium and settlement emails. This allows producers to be responsive when making timely risk management decisions. Subscribe here.
- Set up your online account and then sign in to www.LPI.ca for all purchases of policies and filing of claims.
- Policies can be purchased online, or by completing a Request to Purchase paper form (available at www.LPI.ca). To submit your Request to Purchase:
- Email, fax, or visit your local MASC Service Centre.
- Email (info@lpi.ca) or fax (1-844-782-8339) the LPI Contact Centre.
Payment Options
After submitting a Request to Purchase, you have up to 15 days to provide payment, by cheque, online banking, or telephone banking.
Frequently Asked Questions
The LPI Frequently Asked Questions answers producers’ most common questions.
Considerations
Defer your LPI Premium Payments to Account
Livestock producers can defer their policy premiums for up to 30 days after the policy expires.
Set up an LPI account, purchase an LPI policy, and you can defer your premium payments for the entire length of the policy – and up to 30 days after it expires!
One-Time Stocker Loan Interest Rate Rebate
Producers who finance livestock with a Stocker Loan and purchase a Livestock Price Insurance policy for feeder cattle are eligible for a one-time interest rebate of 0.25 per cent of the Stocker Loan amount.
LPI Policy as Security for the Advance Payment Program
You can use an LPI policy to help secure a cash advance under the Advance Payment Program. Access cash advances of up to $400,000, with interest on the first $100,000 paid by the Federal government.
For more information, please visit Manitoba Livestock Cash Advance or call 1-866-869-4008.
LPI Claims
All claims for the Livestock Price Insurance program should be made online at www.LPI.ca. If you are having issues with online access or accessing your LPI policy, please contact the LPI Call Centre at 1-844-782-5747 (toll-free).
Knowledge Centre
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Beginning the Process
Contact your local MASC Service Centre to set up an appointment to meet with one of our dedicated specialists, to begin the next steps of the process.
