Reading Time: < 1 minute Canadian farmers contribute nearly $140-billion to the economy, says a new snapshot of the sector from AgCanada. “Despite COVID-19, the drought in Western Canada, the flood in British Columbia and other trade disruptions, the overall agriculture sector saw growth in 2021 and is expected to continue to perform well in 2022,” the department said. It […] Read more
2021 was a very robust year for Canadian ag
Pandemic home cooking trend is ‘entrenched’
Reading Time: < 1 minute Even though they’re paying more for ingredients, food manufacturers aren’t being squeezed and have been able to pass on cost increases to consumers, says a new report from CoBank, a major American lender. The pandemic led to a surge in spending at grocery stores as restaurant sales plunged. Market watchers thought that would be reversing […] Read more
Crystal balls are especially wonky, so watch your news feed
There’s been so much upheaval on every front, watchlists are replacing predictions
Reading Time: 2 minutes Farm Credit Canada is steering clear of predictions and instead offering producers a short list of things to monitor in 2022. The pandemic, weather disasters, supply chain disruptions, labour issues and the reappearance of inflation are among the many things that are making “trends increasingly difficult to forecast,” FCC said in a recent release. But […] Read more
Irrigation packs a big economic punch
Reading Time: < 1 minute Irrigation is an economic engine that keeps on getting bigger and contributing more to the provincial economy, according to a new study commissioned by the Alberta Irrigation Districts Association. The study concluded the economic contribution of irrigated crop and livestock production along with irrigation-related food processing and certain non-irrigation benefits added $5.4 billion annually to […] Read more
Canada economy seen weaker than expected as supply chain woes weigh
Ottawa | Reuters – The Canadian economy most likely underperformed expectations in the third quarter amid ongoing supply chain woes and a brutal drought, official data suggested on Friday, prompting analysts to forecast the Bank of Canada could move slower on rate hikes. The economy expanded by 0.4 percent in August, missing estimates, and looked […] Read more
Canada concerned about supply chain issues, watching ports ‘closely’
Reuters –– Canada is concerned about the challenges facing global supply chains and is watching the country’s ports very closely, Finance Minister Chrystia Freeland said on Thursday. Freeland, speaking to reporters in Washington after meetings of the World Bank and International Monetary Fund, said she was broadly optimistic about the strength of Canada’s economic recovery […] Read more
A beefy economic contribution
Reading Time: < 1 minute The economic importance of the beef sector can’t be determined just by looking at farm cash receipts, says Canfax. A new study adds in “direct, indirect and induced impacts” that flow from cattle production. “For Canada in the 2018-20 period, the cattle sector had $51.6 billion in goods and sales, contributed $21.8 billion to gross […] Read more
A great year for the bottom line of grain farmers
Farm income rose by half a billion in Alberta last year — although our neighbour did even better
Reading Time: 3 minutes Farm income in Alberta took a hefty jump last year, but nothing compared to our next-door neighbour. Net cash income rose by 15 per cent in Alberta to $3.9 billion, which is a $447-million increase from 2019. But in Saskatchewan, net cash income skyrocketed to $6.4 billion — a whopping 78 per cent increase of […] Read more
U.S. livestock: Cattle, hog futures down on big supplies, economic jitters
Surge in U.S. COVID-19 cases rattles Wall Street
Chicago | Reuters — U.S. cattle futures eased on Wednesday and hog futures were mostly lower on ample livestock supplies and concerns about rising coronavirus infections and their negative impact on the economy. Wall Street’s three major indexes tumbled on Wednesday and crude oil plunged more than five per cent as a surge in U.S. […] Read more
Election 2019: Ag groups want the parties to pay attention
MarketsFarm — Two major national farm organizations want the political parties to pay more attention to agriculture as the federal election continues. However, the Canadian Federation of Agriculture (CFA) and the National Farmers Union (NFU) have somewhat different takes as to what they see as paramount. “It’s really important that we uphold the quality of […] Read more
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