FARM CASH RECEIPTS LOWEST IN A DECADE: Statistics Canada reported that first quarter farm cash receipts fell to their lowest quarterly level in a decade reflecting a substantial decline in revenue from crops and a marginal drop in livestock receipts. Market revenue from the sale of crops and livestock, fell to C$7.5 billion in the first quarter of 2006, down 3.4% from the same period last year. Crop producers continued to contend with low commodity prices as their revenue tumbled 8.0% to C$3.0 billion. This level was 11.3% below the 2001-2005 five-year average. Abundant world grain supplies and a strong Canadian dollar continue to depress prices. At the same time, livestock receipts edged down 0.1% to C$4.5 billion, with a decline in hog receipts offsetting gains in the cattle and calf sector. Program payments during the first quarter of 2006 fell to C$1.564 billion, down 2.6% from the 2005 record level of C$1.606 billion, despite strong Canadian Agricultural Income Stabilization (CAIS) payments and the introduction of the new national Grains and Oilseed Payment Program (GOPP) that was introduced on February 6, 2006 to provide direct assistance to producers of grains, oilseeds and special crops. More than half of the C$755 million GOPP fund, or C$400 million, was distributed to farmers by the end of the first quarter.