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.
Tag Archives Farm income
Number of US farms falls and size increases, census shows
Number of acres in production falls by 20 million
Canadian farm cash receipts rise in 2022, but so do inputs
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
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
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
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
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
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
B.C. again waives ag income threshold for farm properties
Some farms otherwise risked property tax reclassification
British Columbia farmers who’ve taken pandemic-induced losses in farm income will be able to keep their farm properties classified as such for another tax year. The province on Monday announced that for the second year running, it will waive the minimum farm income thresholds normally required for B.C. properties to be classified as farms for […] Read more
StatsCan shows 2020 farm income up significantly
Farm cash receipts were up more than expenses
Canadian farm income, no matter how it’s measured, was up a lot in 2020, data released Wednesday by Statistics Canada show. Canadian net farm income of $18.1 billion is up $4.8 billion from 2019 — a 36.5 per cent increase. Another measure — realized net farm income (RNFI) — saw farmers take in $9.9 billion, […] Read more
USDA can steer farm aid money to fight climate change, Vilsack says
Reuters — The White House wants to tap a pool of funds from the U.S. Department of Agriculture’s Commodity Credit Corp. (CCC) to support on-farm efforts to fight climate change, Tom Vilsack, President Joe Biden’s nominee to run the USDA, said Tuesday. The Depression-era program of up to $30 billion in annual funding was tapped […] Read more
Canadian Cattlemen Presents: Depth of Field
