Country 105

Country 105


Agriculture Report

Dealing With High Loonie

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Canadian farmers have to get used to higher dollar.


Length:

Money watchers say Canadian farmers will have to get used to the higher value of the dollar.

The loonie has been trending higher again after dropping in value relative to the U-S dollar several weeks ago when news surrounding Greek debt drove investors to U-S currency.

Mike Jubinville -- the President and lead analyst with ProFarmer Canada -- says investors still view the Yankee greenback as a safe haven.

He says the Loonie is likely headed back to par and movement past par is a distinct possibility.

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A new survey suggests many Canadian producers are split on whether to spend more on new farm equipment this year.

The poll by Farm Credit Canada says 42 per cent of farmers will be looking to upgrade their gear, but 45 per cent are going to use what they have.

The survey of 900 producers across Canada was completed in November.

The results also indicate that 3/4 of producers own their equipment, some share their gear with neighbours while others prefer to rent.

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Four significant funding initiatives have been announced by the federal government for the pork industry.

The initiatives include...

9.3 million to fund 17 research projects to be completed by the Canadian Swine Research and Development Cluster.

3.3 million to the Canadian Pork Councils national traceability program to further the development of the resources necessary to enable the pork industry to collect and track traceability information on pork products from farm to fork.

839,480 to the Canadian Centre for Swine Improvement to develop a reliable system of producing highly marbled Canadian pork.

1.4 million to the Canadian Swine Exporters Association, to assist the Canadian swine industry to promote and market Canadian swine genetics worldwide

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The Western Canadian Wheat Growers says Ottawa's plan to change the Canadian Wheat Board doesn't go far enough.

The federal Conservative government wants to allow anyone in western Canada who produces 40 tonnes of grain to be eligible to vote.

Wheat Growers' President Kevin Bender says the proposed change doesn't go far enough in preventing hobby farmers and retired farmers from voting.

Bender says the Growers also want an independent election commission.

 

 


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