The latest numbers from Statistics Canada likely tell farmers what they already know: farm incomes in 2013 didn’t rise as much as their on-farm stocks.
According to the agency, farmers’ total net income, which includes on-farm inventories, was up $5.6 billion to $12 billion at the end of last year .
Realized net income, however — which measures the difference between a farmer’s cash receipts and operating expenses, minus depreciation — rose just 1.1 percent in 2013. The $6.4 billion total marked the fourth consecutive year-to-year increase, said Statistics Canada. Numbers were up for every province except Quebec, Alberta and British Columbia. Gains were the greatest in Manitoba.
Farm cash receipts were up 3.6 percent to $52.2 billion in 2013 across the country, although canola receipts were down 11 percent to $7.3 billion. Due to strong prices in the first half of 2013, wheat receipts were up 11.5 percent, said the agency.
Livestock revenue was up 3.2 percent in 2013 to $21.5 billion. Saskatchewan saw the greatest increase at 12.2 percent.
