Optimism is running rampant among farmers and agribusiness operators, according to a survey by Farm Credit Canada.
The fourth annual survey indicated that more than 75 percent expect their farm or business to be better off in five years.
It was 70 percent a year ago.
About 4,900 producers responded to the survey.
Corinna Mitchell-Beaudin, vice-president for FCC’s prairie operations, said there are many reasons for individuals to be optimistic but the main one is increased crop and livestock prices.
There’s no question 2010 was challenging for farmers and agribusinesses, with a wet spring and growing season, a delayed harvest and a generally poor quality crop.
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“But producers are resilient and a short-term problem like a wet year can’t fizzle a long-term mindset that agriculture is a great industry with a bright future,” she said.
Respondents also indicated a four-year high in their intentions to expand and diversify. Other responses included:
• sixty-seven percent believe they are better off now than they were five years ago, up from 60 percent in last year’s survey;
• fifty-five percent plan to expand and/or diversify their farms or businesses in the next five years;
• eighty percent are more likely to recommend a career in agriculture or a related field to friends or family;
• sixty-four percent would recommend a career in primary production;
• most don’t plan to increase capital spending in 2011, but those who do will focus on equipment, inputs and land;
• eighty-one percent of producers with livestock categorized as other, such as sheep, goats, llamas and bison, believe they’ll be better off in five years.
Crop producers and dairy farmers are 78 percent positive and hog producers at 69 percent.
Producers are most optimistic about prices, demand for new products and increased demand overall. They are least optimistic about profitability and rising input costs.
