OTTAWA — Canadian farmers won’t earn as much money this year compared to a strong 2015, says Agriculture and Agri-Food Canada’s (AAFC) 2016 Canadian Agricultural Outlook. But 2016 will still be one of the strongest years in history.
AAFC farm economic director Rodney Myer said in a conference call that the analysis shows that “2016 should be among the most successful years in the history of Canadian agriculture.”
Net cash income is expected to decline to $13.6 billion this year, but that’s still 14 per cent higher than the 2010-2014 average.
The Feb. 19 report estimates the average net worth per Canadian farm in 2016 is $2.7 million, a three per cent increase over $2.6 million in 2015.
The net operating income per Ontario farm is estimated to drop to $20,687 in 2016 from $24,387 in 2015, but other family income — off-farm wages, investment income and farm salaries paid to family members — is expected to rise slightly to $108,949.
