The dollar may be in the stratosphere, but few experts are predicting that it will weaken anytime soon. That includes economists with FCC.
Manitoba Ag Days: Loonie above 70 cents? Not anytime soon, says Farm Credit Canada
Do farmers feel wealthy?
Strong balance sheets are being offset by rising costs, tempering producer optimism
Reading Time: 5 minutes Glacier FarmMedia – At the end of 2017, Canadian farm debt topped $100 billion. At the time, it was a bigger number than the national debt of 135 countries, noted Country Guide columnist Gerald Pilger. The climb hasn’t stopped. The figure rose steadily since crossing the $100-billion threshold. As of 2022, the most recent year […] Read more
Opinion: It’s hard to be green while in the red
Farmers must make money before they can invest in sustainability and the carbon price isn’t helping
Reading Time: 3 minutes Glacier FarmMedia – I’m not the one to come up with the line used in this article’s headline, but I wish I was. It is a succinct way of describing one of the most challenging policy aspects of sustainability. It is difficult, even impossible, to change farming practices aimed at improving environmental sustainability when experiencing […] Read more
Economic headwinds seen for Canadian farmers
From interest rates to the dollar to commodity prices, here’s what Farm Credit Canada sees coming
Reading Time: 3 minutes Farm Credit Canada predicts a bit of a rocky road ahead for Canadian farmers, with input prices high, commodity prices low and interest rates not expected to drop in the short term. “The sentiment of the industry is not the greatest right now,” said Desmond Sobool, FCC’s director of economics and deputy chief economist, speaking […] Read more
FCC projects profit loss in 2024
Hits expected on grain price, but economist ‘cautiously optimistic’ on interest rates and input costs
Reading Time: 7 minutes A prominent Canadian ag lender is projecting a 4.8 per cent decline in farm cash receipts in 2024, due in part to a softening market. Consequently, its leading economist is urging producers to find any way to save money. “In this environment, I do think that management skills are absolutely critical,” said J.P. Gervais, vice-president […] Read more
FCC’s top economic charts to monitor in 2024
Downward trends for cattle, swine herds; positive bent to feed, fertilizer affordability
As we start the new year amid elevated inflation and major headwinds facing the economy, here are our top charts to help make sense of the economic environment for farm operations, agribusinesses and food processors.
Report sees lower Canadian food inflation through end of 2024
Project lead Sylvain Charlebois sees return to inflation “sweet spot” by year-end
Reading Time: 3 minutes Canadian food prices are expected to rise between 2.5 and 4.5 per cent in 2024, according to a new report. “It is probable that Canadians will continue to experience the strain of food inflation compounded by increasing costs of housing, energy and various other expenditures,” says Canada’s Food Price Report 2024, an annual joint effort […] Read more
Agriculture’s labour challenges continue
Survey finds increasing number of foreign workers not enough to fill gap
Reading Time: 2 minutes Glacier FarmMedia – The latest agricultural labour market information shows shortages cost the sector billions and the problem is likely to grow. The Canadian Agricultural Human Resource Council’s (CAHRC) most recent survey, conducted by the Conference Board of Canada between March and September, found 28,200 jobs were unfilled during peak season in 2022. That resulted in […] Read more
Alberta leads national foodservice recovery
Wild rose province sees largest spike in sales in national survey
Reading Time: 2 minutes Alberta leads the country when it comes to increases in food service sales, with 7.3 per cent growth, according to a recent report from Farm Credit Canada. The report states that sales in 2023 are back to pre-pandemic levels but below the pre-pandemic trend in most cases. Alberta is followed by Ontario at 5.3 per […] Read more
Ag productivity gain rate is shrinking
Canadian agriculture needs innovation, more flexible and accessible regulation
Reading Time: 2 minutes Canadian agriculture productivity is growing, but the rate of growth is slowing, agriculture and tech leaders heard Oct. 26. “The low-hanging fruits are gone,” said J.P Gervais, Farm Credit Canada’s chief economist. The comments came during a discussion with Fred Wall, FCC’s vice-president of marketing and digital agriculture, at the Agriculture Enlightened conference in Winnipeg […] Read more
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