Farm Product Price Index for October shows livestock prices leading the way
Farm prices were up in October.
The Farm Product Price Index for that month has been released by Stats Canada -- and it shows a jump of over 12 per cent compared to October 2010.
Livestock prices led the way -- with an increase of 16 per cent.
Of that number -- cattle prices jumped 18 per cent while hog prices rose 27 per cent.
Overall crop prices were up 7 per cent.
But speciality crop prices jumped a whopping 31 per cent while grains climbed about 3 per cent.
One of the most challenging questions for producers is what to pay for labour.
One analyst says the answer is that it depends on the skills required for the job -- and the experience of the employee.
Ted Nibourg says you also have to look at the competition from other industries, the benefits provided and the return on investment to the farm operation.
The federal government's Working in Canada website lists a range of 14 to 35 dollars an hour in its most recent survey of farm labour rates.
Farm labour benefits include free or subsidized housing and the use of a vehicle.
The end of the Canadian Wheat Board's monopoly will provide growth opportunities to Viterra -- the country's largest farm services company.
Viterra says benefits from the new rules will be modest in 2012 but become more significant in following years.
Under new federal law -- Viterra will be able to compete to buy wheat, barley and duram after the Wheat Board's monopoly ends on August 1st.
Manitoba's biggest farm lobby group -- the Keystone Agricultural Producers -- is happy the province is doing an independent flood review.
The province also announced it will establish a review committee for two of the biggest lakes in Manitoba and come up with a surface water management strategy.
Flooding has been a major issue for farmers in Manitoba.
And India is a huge potential market for Saskatchewan farm products.
That comment from Adam Smith at Agriculture Canada -- who says India needs Canadian farm equipment.
India is already a major importer of Canadian pulse crops.