Released on February 25, 2008
Strengthening grain prices in the final months of 2007 helped to push up Saskatchewan farm cash receipts and farm income last year according to Statistics Canada.
Today's report shows that Saskatchewan's 2007 farm cash receipts total $7.6 billion, up 15 per cent over 2006 levels.
Agriculture Minister Bob Bjornerud said grain prices are driving a positive trend in agriculture.
"The 39 per cent increase in crop receipts is great news," Bjornerud said. "Wheat receipts were up by $390 million over 2006, durum by $306 million and canola by $287 million."
Bjornerud said he hopes the trend can expand to include the livestock side of agriculture.
"While I am very encouraged by the 2007 Farm Cash Receipts, we cannot forget that farm income is still being affected by increased operating expenses and the high value of the Canadian dollar," Bjornerud said. "Our livestock sector remains under pressure from low prices and high input costs - cash receipts fell in that area."
Statistics Canada reports that livestock receipts were down four per cent in 2007, due to decreased cattle and hog prices.
The effect of farm cash receipts was reflected in an earlier Statistics Canada report on Realized Net Farm Income, where an overall increase in Saskatchewan farm income was projected for 2007 and 2008.
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For more information, contact:
Scott Brown
Agriculture
Regina
Phone: 306-787-4031
Email: scott.brown@gov.sk.ca