Farm income grew strongly in 2017

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Several farm income records were set in Alberta last year, says an Alberta Agriculture statistician. Farm cash receipts were $14.1 billion, the first time they have exceeded $14 billion, said Roy Larsen.

Crop market receipts were also a new record, up 3.9 per cent to $6.9 billion.

“The growth in receipts was largely driven by higher marketing and prices, notably wheat and canola,” said Larsen.

Livestock market receipts were up 4.6 per cent to $6.4 billion with cattle rising 4.8 per cent to $4.8 billion, the third highest on record. Net cash income increased 6.8 per cent (to a record $3.6 billion) but total net income was down marginally by 0.3 per cent.

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