Manitoba Cattle Enhancement Council

Manitoba Cattle Enhancement Council

November 01, 2007 16:07 ET

Manitoba Cattle Enhancement Council Issues Levy Collection Report

WINNIPEG, MANITOBA--(Marketwire - Nov. 1, 2007) - The Manitoba Cattle Enhancement Council reported that as of today its records indicate that it collected approximately $678,000 in levies from Manitoba cattle producers in its most recent collection period, ending September 1, 2007.

MCEC administers an investment pool that goes to support made-in-Manitoba solutions for a long-term, viable beef industry in Manitoba. The pool is funded by a mandatory but refundable $2 per head levy on all cattle sold by Manitoba producers. The province is matching the levy for the first three years so every $2 becomes $4. During the most recent period, MCEC refunded approximately $280,000, leaving 59 per cent of the levies collected in the fund.

"We are pleased that the clear majority of producers have elected to keep their levies in the fund so it can work for a stronger, more robust beef industry in the province," says Neil Van Ryssel, vice-chair of the Manitoba Cattle Enhancement Council. "We recognize that high feed prices and a rising dollar have made it a tough year for producers. These market conditions make it more important than ever for us to continue to look for investment opportunities that can give Manitoba producers more options and more revenue for their livestock."

The council's mandate is to invest in initiatives that will lead to increased slaughtering and processing capacity, or that will enhance the market for value-added cattle products. Proposals for funding are evaluated by the council's Investment Advisory Committee, which is comprised of cattle industry representatives and investment specialists.

For more information on the council and to sign up for MCEC news by email, please visit www.mancec.com.

Contact Information

  • Manitoba Cattle Enhancement Council
    Kathleen Butler
    Executive Director
    (204) 452-6353
    Website: www.mancec.com