Thank you, Mr. Steckle.
We agree about the Competition Bureau. As an organization, we went in front of the Competition Bureau to talk about one of the latest mergers that came on the radar, the Cargill takeover of Better Beef. We predicted disastrous outcomes for farmers, and sure enough, that's exactly what we're seeing.
We have two and a half packers left and we have fat-cattle prices that, literally, when adjusted for inflation, are the same as prices in 1936. They are exactly half of what they were for the 50-year period between 1940 and 1990. On the input side, over the last two decades we have record-setting profits. At the same time, we have the biggest farm income losses.
I just want to point out one thing to bring this completely up-to-date. Mr. Easter mentioned the sheet on some Canadian farm income figures. Agriculture and Agri-Food Canada last month projected that farmers' net incomes from the markets in 2008, this year, will be negative despite spectacular increases in relative grain prices. They are projecting $3.7 billion, almost $4 billion, in support payments and only $2.5 billion in realized net farm income. That's a negative $1.5 billion in net income for the market despite these high prices.
It's largely a factor of higher input costs. These companies are taking it away and the Competition Bureau isn't doing anything for us.