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.
Deere cuts 2024 profit forecast as sliding farm income stifles demand
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
Net farm income down in 2022 despite high commodity prices: StatCan
Hike in farm fuel, fertilizer and feed costs is the largest in nearly 50 years
Reading Time: 2 minutes Farmers’ realized net income dropped by over eight per cent in 2022 as expenses outpaced the rise in cash receipts, a new Statistics Canada report says. Realized net income is the difference between cash receipts and operating expenses, minus depreciation and plus income in kind. When cannabis is included, realized net income dropped by nearly […] Read more
Alberta poultry sector gets late entry for AgriStability
Participation deadline extended to end of month
Reading Time: 2 minutes In the wake of avian influenza outbreaks in the region, Alberta poultry producers have been granted a late participation option to sign up for the federal/provincial AgriStability income stabilization program. Provincial Ag Minister Nate Horner on Wednesday announced the two levels of government have reached an agreement to allow poultry producers late participation in AgriStability […] Read more
Farm cash receipts on the rise, StatCan shows
Reading Time: < 1 minute MarketsFarm — Farm cash receipts improved 13.7 per cent during the first three quarters of 2022, Statistics Canada reported Monday. From January to September, those receipts reached $66.7 billion. That increase of more than $8 billion was due to higher receipts for crops, livestock and program payments. The report noted crop receipts rose 7.3 per […] Read more
Initial drought list ready for 2022 livestock tax deferrals
Much of Manitoba, southern Alberta designated for 2022
Reading Time: 3 minutes Many of the Prairie livestock producers forced by drought to make “difficult herd management decisions” in the 2022 income tax year are now eligible to defer the taxable income from those decisions. Federal Agriculture Minister Marie-Claude Bibeau on Tuesday released the initial list of designated regions in Alberta, Manitoba and Saskatchewan where livestock tax deferral […] Read more
Former federal agriculture minister Bob Speller, 65
Ontario MP served in Paul Martin's cabinet
Reading Time: 2 minutes A memorial will be held next week for Bob Speller, the Ontario businessman who served as Canada’s agriculture minister in the thick of the country’s BSE crisis. Speller, the MP for the southwestern Ontario riding of what’s now Haldimand-Norfolk from 1988 to 2004, died Thursday at age 65. A cause of death wasn’t given in […] Read more
The value of Alberta farms rises again
Rising land prices – fuelled by higher crop prices – up by $8 billion but debt also rose in 2020
Reading Time: 3 minutes Glacier FarmMedia – You’re richer than you think — and you owe more, too. That could be the theme of StatsCan’s latest snapshot of farm equity, the number you get when subtracting farm debts from the value of assets. If you had put all of the assets of every farm in Canada on the auction […] Read more
A message from April Stewart, Country Guide's Associate Editor
