Thursday, May 30, 2002
May 29, "Farmers Chalk Up Record Earnings":
Cows and hogs buoyed cash flow to Canadian farms, which gained nearly 30 per cent in total net cash income in 2001, despite the double whammy of drought and depressed crop prices, newly released Statistics Canada numbers show.
Across the board, the numbers show that farms brought in a record-setting $36.2-billion in total cash receipts in 2001, the same year the costs of operating a farm -- from fertilizer to feed and heat -- hit a record high of $27.4-billion.
What kept the farming industry $8.8-billion in the black were healthy prices for cattle and hogs. Also contributing was the high volume of payouts from provincial and federal agricultural-disaster and crop-insurance programs that were just shy of their 1992 record highs.
May 30, "Ottawa Considering Bailing Out Farmers":
The federal government is eyeing a short-term bailout package worth as much as several hundred million dollars to help Canadian farmers hard hit by drought and depressed crop prices.
The package likely will be a mixture of reallocated cash and new money, and it will be sold as short-term "bridge funding" to help farmers survive while Ottawa finishes modifying all its agriculture programs, sources said.
"This money is to help producers in the short term to stay in business until our new agriculture policy framework is in place," a federal source said.