The heat wave this week has temperatures ranging from 30 to 38 in parts of the prairies.
The heat continues to have an impact on crop and pasture conditions that have already been suffering from dry conditions and pest problems like grasshoppers and gophers.
The heat is also withering away at producer returns as the crop struggles in the field, leaving some producers expected to experience a cash shortfall.
On Monday, Farm Credit Canada (FCC) announced that it will be working with producers - crop, and livestock - that may be experiencing financial hardships.
Shannon Weatherall, FCC's vice president of operations says they'll be working with customers on a case-by-case basis.
"For some producers, the lack of moisture since June of this year has been an extension of multiple years of below-average precipitation. So some areas of Saskatchewan for sure this is the third or even fourth year of below-average precipitation which is obviously creating some challenges."
She points out that grains and oilseeds are impacted by the drought conditions, but so too are livestock producers.
"Particularly beef and dairy sectors as there's less feed and availability and that impact on quality and yield there as well. "
So she says they're looking to support or potentially support a good number of customers across western Canada
That support will vary depending on the situation but could include anything from a deferral of principal payments and/or other loan payment schedule amendments to reduce the financial pressure.
In 2021, FCC's customer support "Adverse Weather Program" in the western provinces due to the drought saw 574 customers choosing to defer payments for a total of $525.3 million.
As well, 689 customers had credit lines approved for a total of $134.8 million.
Weatherall says the biggest thing she wants to do is encourage customers and producers if they have concerns or they're not sure what to do, or they have a sense of what they want to do to come in and talk to us.
"Come into your local FCC office, contact your FCC relationship manager, or even call our Customer Service Center."
She adds as well as financial support, she encourages producers to reach out for emotional support by contacting their provincial mental health organizations, farm stress lines or Do More Ag.
To hear Glenda-Lee's conversation with FCC's vice president of operations Shannon Weatherall click on the link below
Source : Pembinavalley online