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General Improvement in Farm Cash Prices

OTTAWA - Mar 5/08 - SNS -- There was a general increase in prices received by Canadian farmers in December, but while field crop values are up sharply over the same month last year, livestock returns are down, according to Statistics Canada.

Prices for crops were up 19.3% in December 2007 compared with December 2006, according to the Farm Product Price Index (FPPI), as only fruits and potatoes recorded decreases. Prices for grains, oilseeds and specialty crops continued their double-digit increase, a trend which began in November 2006.

However, prices for livestock and animal products were 3.4% below their December 2006 level as cattle, calf and hog prices continued to slide. This was the seventh consecutive year-to-year declines for these major commodities. Meanwhile, prices for supply-managed commodities continued their upward trend, moderating the decrease.

Prices farmers received for their commodities rose 2.2% in December 2007 from November 2007, as increases were recorded in both the crops index and the livestock and animal products index. The FPPI (1997=100) stood at 106.3 in December, up from a revised November index of 104.0.

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