Reading Time: 2 minutes Canadian farmers' total equity growth slowed for the first time in five years in 2024 as liabilities grew faster than assets, Statistics Canada reported. Farmland prices led to most of the growth, while declining farm income led to less ability to service debts.
Canadian farm liabilities outpaced equity growth in 2024
Farmers see declining ability to service debt for second consecutive year
Farmers’ realized net income fell $3.3 billion in 2024: StatCan
Livestock receipts rose across all sectors except poultry; crop receipts fell
Reading Time: 2 minutes Canadian farmers' realized net income declined by nearly 26 per cent in 2024 according to preliminary data from Statistics Canada. This was largely driven by declines in crop receipts as prices fell.
USDA forecasts smaller drop in 2024 farm income
Reading Time: 2 minutes Chicago | Reuters – U.S. farm income will fall for a second consecutive year in 2024, but not as much as previously expected as prices of livestock and egg products boom and production expenses ease, the U.S. Department of Agriculture said on Thursday. Declining farm income could ripple across the rural economy in a presidential […] Read more
Farm equity, asset values up in 2023: StatCan
Farms' ability to pay debts declined but balance sheet remains strong
Reading Time: 2 minutes The total equity of the Canadian farm sector rose nearly eight per cent in 2023 while farm assets rose more than seven per cent according to Statistics Canada’s 2023 balance sheet.
US farmers opt for soy to limit losses as all crop prices slump
Reading Time: 3 minutes In March, the U.S. Department of Agriculture forecast farmers would plant 86.5 million acres of soybeans nationwide this spring, the fifth most ever. Some analysts expect soybean acres to increase by another million acres or more as heavy rains close the window on corn planting.
Realized Canadian farm income up, net income down in 2023
Total farm cash receipts rose 4.4 per cent compared with 2022 on higher crop marketings; cattle prices
Reading Time: 2 minutes Realized net income for Canadian farmers rose 18.3 per cent in 2023 to C$14.5 billion, as growth in receipts offset a rise in expenses, according to a report from Statistics Canada released May 29.
Deere cuts 2024 profit forecast as sliding farm income stifles demand
Reading Time: 2 minutes Deere has trimmed its annual profit forecast for the second time, squeezed by slumping demand for tractors and combines as falling crop prices pressure farm income.
New farm income record set in 2023, estimates suggest
Despite challenges like drought and war, Canadian farms proved resilient
Reading Time: 2 minutes Canadian farm income may have set a new record in 2023. That's according to the official 2023 and 2024
estimates released February 16 by Agriculture and Agri-Food Canada.
Number of US farms falls and size increases, census shows
Number of acres in production falls by 20 million
Reading Time: 2 minutes Farms in the U.S. continued to get larger and the number of farms fell between 2017 and 2022, new data released by the U.S. Department of Agriculture showed on Tuesday.
Canadian farm cash receipts rise in 2022, but so do inputs
Reading Time: 3 minutes MarketsFarm – Canadian farmers brought in more money in 2022 compared to the previous year, but their expenses were also up resulting in a 7.7 per cent drop in realized net income to $11.8 billion, according to the latest farm income data from Statistics Canada. Data for the first three quarters of 2023 shows another […] Read more
A message from April Stewart, Country Guide's Associate Editor
