About 99 percent of farmers are already aware of this fact, but growing crops and raising livestock has become very expensive. In a report on farm income released November 28, Statistics Canada said that operating expenses for farmers (after rebates) hit $73.3 billion in 2022. The cost of fertilizer, feed, fuel, seed and other inputs […] Read more
Tag Archives farm income — page 2
Farm income stats tell interesting stories
Statistics Canada has released reams of information related to farm income for 2021 and 2022. One of the major stories from the stats is how farm expenses have risen faster than farm income. However, combing through the numbers provides other interesting insights. First, it’s tough to be farming in Newfoundland and Labrador, Nova Scotia and […] Read more
American farm income to soar
CHICAGO, Ill. (Reuters) — Soaring grain and livestock prices are expected to push U.S. farm incomes to an historic high this year, as producers benefit from strong global grain and oilseed demand amid tight supplies. The U.S. Department of Agriculture says net farm income is forecast to increase to US$160.5 billion in 2022 from $141.0 […] Read more
Farm income surged in 2021
Farm revenue and cash income soared in 2021 despite widespread drought and a much-reduced crop. The picture is much less rosy, however, when crop insurance payments and sold-off crop inventories are excluded from the numbers. “At the end of the day, yes, there’s more gross money at the farmgate, but less net (from growing crops,)” […] Read more
National farm income soars despite drought
Economist says assessing national numbers difficult because receipts and income vary depending on province and sector
Agriculture Canada said farmers’ net cash income in 2021 will likely set a new record of $26.6 billion, despite the challenges farmers faced last year. The department said net cash income is expected to have grown 49.1 percent from $17.8 billion in 2020. “Large increases in receipts and program payments are projected to have outpaced […] Read more
Farm income levels off
Canadian farmers’ realized net income dropped in 2017, marking the first decline since 2013. The 2.5-percent drop to $8.3 billion marks only the second decrease in the last 10 years, according to Statistics Canada. Realized net income is the difference between cash receipts and operating expenses, less depreciation, plus income in kind. Farm cash receipts […] Read more
Record farm income expected
Agriculture Canada expects record farm income for 2017 and forecasts near-record levels for this year. The department’s latest outlook suggests net cash income will come in at $16.2 billion in 2017, up five percent from the year before. “Net cash income is expected to then decline modestly to $15.6 billion in 2018 as operating expenses […] Read more
Ottawa addresses ‘income sprinkling concerns’
Farmers aren’t facing the radical restrictions on income splitting with which white collar professionals are coping. However, it’s far from business as usual for the family farm, and farmers need to realize that they had better make sure their operations comply with Canada Revenue Agency expectations, say tax experts. “Definitely this round of drafting of […] Read more
Stats point to healthy farm sector: FCC
Farm income and debt figures released last week by Statistics Canada indicate a financially strong sector, said Farm Credit Canada’s chief economist J.P. Gervais. The federal agency holds a sizable chunk of the total $96 billion in outstanding debt as of 2016, but farmers also recorded record realized net income of $8.8 billion, an increase […] Read more
Realized net farm income up again
Realized net farm income has risen for the third year in a row, says Statistics Canada. The agency reported Wednesday that realized net farm income was $8.8 billion in 2016, up 7.6 percent. Realized net income is the difference between cash receipts and operating expenses, less depreciation, plus income in kind. The largest increase of […] Read more
