Search
Better Farming OntarioBetter PorkBetter Farming Prairies

Better Farming Ontario Featured Articles

Better Farming Ontario magazine is published 11 times per year. After each edition is published, we share featured articles online.


Outlook bright for Canadian farmers

Tuesday, February 26, 2013

by BETTER FARMING STAFF

With 2012 farm income levels at record highs and the prospects for 2013 almost as good, the future of agriculture in Canada is bright according to Agriculture and Agri-Food Canada’s (AAFC) Medium Term Outlook for international and domestic markets. The projections extend from 2012 to 2022 and assume a Canadian dollar at or slightly above par with the U.S. dollar, along with higher oil and gas prices.

The outlook, as well as farm income forecasts for 2012 and 2013, was released Wednesday by AAFC along with the Farm Income, Financial Conditions and Government Assistance Data Book, 2012. A senior AAFC official told reporters listening in on a teleconference technical briefing that Canadian farmers are experiencing financial returns close to those experienced in the mid-1970s, when adjusted for inflation.

Farm income forecasts show total farm cash receipts for 2012 are expected to be $53.4 billion, up seven per cent from 2011 and 18 per cent above the 2007-2011 average. Net cash income – the money available to farmers for debt repayments, or withdrawal for personal use – is expected to reach a record $13.1 billion for 2012 and drop only slightly in 2013 to about $12.9 billion.

“An increase in livestock receipts and stable crop receipts,” the farm income report says, “will together nearly offset modest growth in expenses (in 2013).” The report also notes there will be a reduction in program payments and that farm-level average net operating income will decline marginally to $73,855 in 2013, down from $74,190 in 2012.

Total assets for the average farm – up seven per cent in 2012 to $2.2 million driven primarily by higher land prices – are expected to increase another five per cent in 2013 to $2.3 million.

Farmer net worth – the difference between total assets and liabilities – represents the amount a producer would receive if the farming operation were sold and all its business debts paid. It is expected to go up by six per cent in 2013 to $1.9 million.

Total family income – profits from farming and income from all other sources – is expected to reach $131,947 in 2013, up from $127,106 in 2012.

The outlook predicts 2013 grain and oilseed prices will be slightly lower. However, cattle producers should see slightly higher prices, “mainly due to constrained supplies of slaughter animals.” Hog prices are also expected to increase in 2013.

Domestic consumption of poultry meats, which has increased 66 per cent over the last 20 years, is expected to slow to just 1.5 per cent a year “due to market maturity.” BF

Current Issue

May 2025

Better Farming Magazine

Farms.com Breaking News

New board members for Ontario Pork

Friday, April 25, 2025

Ontario Pork, an association representing the 1,898 pork farms that market 5.9 million hogs in the province, has announced its new board lineup for 2025. As a Guelph, Ontario-headquartered organization, Ontario Pork is engaged in the areas of research, government representation,... Read this article online

Sheep farmers win Ontario’s Outstanding Young Farmers

Thursday, April 24, 2025

Sheep farmers and wool producers from Wallenstein, Ont. are Ontario’s Outstanding Young Farmers for 2025. “It’s great to be recognized by your peers in the industry with an award like that,” Ryan Schill told Farms.com. “When we started the sheep farm, there were people questioning us... Read this article online

Ontario ag connections in the NHL playoffs

Tuesday, April 22, 2025

The 2025 NHL playoffs are underway, and some of hockey’s biggest names got their start on an Ontario farm or have invested in agriculture since becoming professional athletes. Farms.com went through each of the 16 playoff team rosters to uncover which players have a connection to... Read this article online

New Alcohol Trade Freedom in Ontario

Thursday, April 17, 2025

The Canadian Federation of Independent Business (CFIB) has welcomed Ontario’s bold step in eliminating trade barriers and allowing direct alcohol sales to consumers. This new legislation aims to ease internal trade across provinces and support small businesses. One of the key changes... Read this article online

BF logo

It's farming. And it's better.

 

a Farms.com Company

Subscriptions

Subscriber inquiries, change of address, or USA and international orders, please email: subscriptions@betterfarming.com or call 888-248-4893 x 281.


Article Ideas & Media Releases

Have a story idea or media release? If you want coverage of an ag issue, trend, or company news, please email us.

Follow us on Social Media

 

Sign up to a Farms.com Newsletter

 

DisclaimerPrivacy Policy2025 ©AgMedia Inc. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Back To Top