The Western Livestock Price Insurance Program (WLPIP) 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 the settlement and sustainability of the Program. All data reported is confidential and analyzed for program enhancements specific to the WLPIP program.
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:
- Reduce delays in settlement prices as a result of continually thinning cash sales data
- Stabilize number of weeks settlement indexes are offered
- Enable us to continue to provide producers an accurate reflection of the Western Canadian market conditions for the week
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 WLPIP program subscriber.
Once you are registered, you will receive weekly email reminders to report your cash price to AFSC. WLPIP 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 WLPIP. Cash sales that are 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, visit WLPIP.ca.
Incorporating Fed Cattle Price Reporting Program Data
After sufficient analysis is complete on reported pricing data, WLPIP 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 (WLPIP) conducted a third party review of all programs, gathering valuable program feedback from stakeholders and producers.
A common producer concern observed over time was the continually thinning Fed cash market data reported to WLPIP and the potential of delays in settlement prices. These delays have varied in length, some only affecting the current week, others lasting for a few weeks, if the data remained thin.
The Alberta Cattle Feeders Association, along with the Saskatchewan Cattlemen’s Association, reached out to AFSC to research the possibility of voluntary price reporting direct to AFSC in order 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, an increase in data available to WLPIP was observed.
Encouraged by the data received, WLPIP has continued with this initiative. The next step is for WLPIP to collect producer cash data from all willing producers across all four western provinces, specifically using the data that falls within our definition of cash price.
Give us your Feedback
WLPIP 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.