Farm Cash Receipts Inch Up

OTTAWA - Nov 24/06 - SNS -- Canadian farmers realized more money from the sale of their agricultural output during the first nine months of the year, according to Statistics Canada, as a gain in revenue from the sale of crops offset a decline in livestock sales.

Farmers received $23.4 billion in market revenue between January and September, up 0.6% from the same period last year. This total was 3.5% below the 2001 peak of $24.2 billion, and only 0.9% above the previous five-year average between 2001 and 2005.

Crop receipts amounted to $10.1 billion, up 3.9% over the January to September period last year and 1.1% higher than the previous five-year average. Large production in both 2005 and 2006 contributed to increased deliveries of grains and oilseeds.

On the other hand, livestock receipts fell 1.8% to $13.3 billion, as lower hog revenues more than offset higher cattle and calf receipts. However, livestock revenues were 0.7% above the previous five-year average, which included the impact of the bovine spongiform encephalopathy (BSE) crisis.

Farmers received $3.5 billion in program payments during the first nine months of 2006, down 9.4% from the record high set over the same period in 2005. Despite the decline, the total was 18.4% above the previous five-year average.

Total farm cash receipts, crop and livestock revenues plus program payments, were $26.9 billion through the first nine months of 2006. This was 0.9% lower than the record for the same period in 2005, but 2.9% higher than the five-year average.

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