Close X
Friday, November 15, 2024
ADVT 
National

Record year for farm incomes in 2014, says federal agriculture outlook

Darpan News Desk The Canadian Press, 13 Feb, 2015 10:48 AM

    OTTAWA — Agriculture Canada says 2014 was a bumper year for the country's farmers, with aggregate net cash income projected to total a record $14 billion.

    The department's 2015 Canadian Agricultural Outlook says incomes will be off from that this year, but will remain strong.

    Preliminary forecasts for 2015 suggest farm incomes will slip to $13 billion due to lower grain and oilseeds receipts because of a U.S. bumper crop in 2014 and higher world stocks.

    The forecast says a weaker loonie will make Canadian products more competitive and temper some price declines.

    It says recent declines in fuel prices will also add to agriculture income, but the volatility in crude oil markets makes it hard to estimate the full impact.

    Average total income of farm families, which includes the family's share of net operating income from the farm and other income, is projected to reach $131,595 in 2014 and $134,931 in 2015.

    The outlook says things are looking good for the near future.

    "The medium-term prospects for agriculture and agri-food demand and trade are positive," the department said.

    "Rising global economic growth and increasing incomes in large, emerging countries will continue to spur demand-side growth and Canada will continue to be an important supplier in many of these markets."

    In livestock, the cattle and hog sectors enjoyed record prices in 2014 due to low North American supplies. Weakening feed grain prices also contributed to higher incomes.

    The department predicts that total livestock receipts will not change significantly in 2015, although cattle receipts will continue to benefit from tight markets and higher prices.

    "Hog producers have seen high levels of price and income variability over the last decade and this variability is expected to continue over the near term."

    MORE National ARTICLES

    History museum pays $300,000 to N.S. man for world's oldest known hockey stick

    History museum pays $300,000 to N.S. man for world's oldest known hockey stick
    GATINEAU, Que. — The Canadian Museum of History has acquired what it believes is the world's oldest known hockey stick.

    History museum pays $300,000 to N.S. man for world's oldest known hockey stick

    First trials of Ebola vaccines suggest they are safe; next phase next month: WHO

    First trials of Ebola vaccines suggest they are safe; next phase next month: WHO
    The first clinical trial designed to see if two experimental Ebola vaccines actually work may begin in late January and two others are slated to start in February in West Africa, the World Health Organization said Friday.

    First trials of Ebola vaccines suggest they are safe; next phase next month: WHO

    Dalhousie University announces more penalties in Facebook dentistry scandal

    Dalhousie University announces more penalties in Facebook dentistry scandal
    HALIFAX — Dalhousie University says the 13 dentistry students who were allegedly members of a Facebook page where sexually violent content was posted will no longer attend classes with the rest of their classmates.

    Dalhousie University announces more penalties in Facebook dentistry scandal

    Police charge man with two counts of second-degree murder in Halifax house fire

    Police charge man with two counts of second-degree murder in Halifax house fire
    HALIFAX — The RCMP charged a 30-year-old man with second-degree murder today in connection with the deaths of two people found in a house fire in Halifax.

    Police charge man with two counts of second-degree murder in Halifax house fire

    Two of three people found dead in Halifax house fire were homicide victims: RCMP

    Two of three people found dead in Halifax house fire were homicide victims: RCMP
    HALIFAX — Two of the three people found dead in a house fire in Halifax were homicide victims and a man has been arrested, the RCMP said Thursday.

    Two of three people found dead in Halifax house fire were homicide victims: RCMP

    New Brunswick upholds ruling to allow Christian law school grads to practise

    New Brunswick upholds ruling to allow Christian law school grads to practise
    FREDERICTON — The Law Society of New Brunswick upheld a decision today to allow graduates of a proposed law school in British Columbia to practise in the province.

    New Brunswick upholds ruling to allow Christian law school grads to practise