Tag Archives farm income

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Crops, Machinery

Six numbers in agriculture to make you stop and think

It isn’t as quiet as you might think on the home front. Yes, today’s farms seem stable, but the next evolutionary wave is gaining energy

By
In 2009, total Canadian net farm income was $2.8 billion. Four years later, it was $10 billion more, with Statistics Canada’s saying a $5.6-billion rise in the total value of farm-owned inventories from the year before accounted for almost all of the increase in total net income in 2013 That inventory increase came from a[...]
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(Country Guide file photo)
Crops

Input costs to chip away at farmers’ shrinking income

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Reading Time: 2 minutes CNS Canada — An anticipated downturn in farm income and higher input costs mean Canadian producers will be in a tough financial position this year, the head of the National Farmers Union (NFU) predicts. Farmers’ net cash income is expected to move lower in 2016, declining nine per cent to $13.6 billion in 2016, according[...]
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(Dave Bedard photo)
General, Markets, Reuters

Farm incomes set to fall from record high

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Reading Time: 2 minutes Reuters — Canadian farm incomes look set to fall in 2016 after a year of record profits, but will still reach above-average levels, according to a report from the federal government. Rising receipts for crops and livestock have boosted incomes in recent years, due to greater demand in developing countries and a weak Canadian dollar,[...]
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(Keith Weller photo courtesy ARS/USDA)
Dairy Cattle, Livestock

Farm kids: Don’t worry about wages

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Reading Time: 2 minutes A new study by Cornell University agricultural economists says family members who work on the family dairy farm make $22,000 less annually than comparable hired managers, but are handsomely compensated with “socioemotional” wealth. “While $22,000 seems like a large penalty, there are non-financial rewards they experience working for the family business,” Loren Tauer, professor at[...]
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soybean crop
Crops, Guide Business

Six numbers in agriculture to make you stop and think

It isn’t as quiet as you might think on the home front. Yes, today’s farms seem stable, but the next evolutionary wave is gaining energy

By
Reading Time: 6 minutes The spring rush is over, so now is the time to take a moment and reflect. As you gaze across fields flush with new growth, think about how much things have evolved in the last few years. Although that lone tree out there still leans to the east, and the sun still sets in the[...]
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farm with dark clouds in the sky
Guide Business

Keeping up with the high cost of farm living

When farmers have more, they spend more. The question is, can farm families stop spending if they have less?

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Reading Time: 7 minutes Maybe the biggest surprise is that the numbers aren’t all that surprising. Researchers at the University of Illinois have found the average amount of family living expendables skyrocketed from about $53,000 per farm in 2004 to $81,000 in 2013. After starting at $84 per acre, living costs jumped in that one decade to $121 per[...]
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financial paperwork
Guide Business, Management

Finance metrics you may not have thought of — diagnosing operating inefficiency

AME Management Part 2: The importance of watching and understanding trends and comparisons

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Reading Time: 3 minutes Our last column introduced the concept of Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and used it to define Operating Efficiency Ratio, (EBITDA/Total Revenue). With some exceptions, financially successful farms have Operating Efficiency Ratios above 35 per cent, i.e. with at least 35 cents left from every dollar of sales after paying all non-capital[...]
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financial paperwork
Guide Business, Management

Finance metrics you may not have thought of — operating efficiency

AME Management Part 1: Basic financial tools to help determine your operating income

By ,
Reading Time: 3 minutes In good times or bad, there are some basic financial tools that allow farmers (and other managers) to gauge their operating efficiency, diagnose where they have problems, and measure the financial risk they are bearing or are about to undertake when they make a substantial investment. We find, however, that we hear very few people[...]
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