GFM Network News


Farmer in wheat field

Opinion: ‘Rich’ farmers aren’t a bad thing

People may not appreciate how tough it is to build a farm business, 
but we should still celebrate those successes

Reading Time: 3 minutes It was just one line in a 25-page report, but it stood out: “It is a popular misconception that farmers are making a lot of money in agricultural enterprises.” As a journalist, I’ve never had to worry that people will think I’m wealthy. But, according to the report, the notion of “rich farmers” is widely held. And […] Read more

(Dave Bedard photo)

Farmers’ debt seen hitting fresh record high

Reuters — Canadian farmers’ debt will likely reach another record high this year, while land appreciation slows and incomes flatten, but the industry is still in strong financial shape, the country’s biggest agriculture lender, Farm Credit Canada, forecast on Tuesday. FCC, the federal Crown ag lending agency, sounded a note of caution for farmers, who […] Read more


Photo: Thinkstock

Six numbers in agriculture to make you stop and think

It isn’t as quiet as you might think on the home front. Yes, today’s farms seem stable, but the next evolutionary wave is gaining energy

In 2009, total Canadian net farm income was $2.8 billion. Four years later, it was $10 billion more, with Statistics Canada’s saying a $5.6-billion rise in the total value of farm-owned inventories from the year before accounted for almost all of the increase in total net income in 2013 That inventory increase came from a[...]
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(Country Guide file photo)

Input costs to chip away at farmers’ shrinking income

CNS Canada — An anticipated downturn in farm income and higher input costs mean Canadian producers will be in a tough financial position this year, the head of the National Farmers Union (NFU) predicts. Farmers’ net cash income is expected to move lower in 2016, declining nine per cent to $13.6 billion in 2016, according[...]
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(Dave Bedard photo)

Farm incomes set to fall from record high

Reuters — Canadian farm incomes look set to fall in 2016 after a year of record profits, but will still reach above-average levels, according to a report from the federal government. Rising receipts for crops and livestock have boosted incomes in recent years, due to greater demand in developing countries and a weak Canadian dollar,[...]
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The Agricultural Business Analyzer is an easy way to create the three key financial statements that measure the health of a business.

How’s business? There’s an app for that

Free online tool can tell you exactly how your farm is doing 
financially and create a financial plan for the coming year

Reading Time: < 1 minute An online tool for analyzing the performance of your farm business has been upgraded, along with some additional user assistance for the software. The Agricultural Business Analyzer is a set of Excel spreadsheets designed for a farm business. It helps producers prepare the three key financial documents: a balance sheet (that measures net worth), income/expense[...]
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(Keith Weller photo courtesy ARS/USDA)

Farm kids: Don’t worry about wages

A new study by Cornell University agricultural economists says family members who work on the family dairy farm make $22,000 less annually than comparable hired managers, but are handsomely compensated with “socioemotional” wealth. “While $22,000 seems like a large penalty, there are non-financial rewards they experience working for the family business,” Loren Tauer, professor at[...]
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farm financial management tips

E-learning tutorial offers basics on farm financial statements

Reading Time: < 1 minute Alberta Agriculture and Forestry has a new online e-learning tutorial called Understanding Farm Financial Statements and their Measurement. The tutorial offers the basics on farm financial statements, their interaction, and measurements, said farm financial specialist Rick Dehod. This e-learning series is set up so that it may be viewed in part or in its entirety.[...]
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field crop

Know the real bottom line before heading out to seed

Finance expert says knowing your actual cost of production allows for 
better decisions on marketing and risk management

Reading Time: 2 minutes Another seeding season is within view, but do you know how you fared last year? “Unfortunately, farmers really don’t know if their farm was profitable in 2014,” said Rick Dehod, farm financial specialist with Alberta Agriculture and Rural Development. “The majority of farms still reports their incomes and expenses on a cash basis via their[...]
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financial paperwork

Have your financial ducks in a row before spring hits

Farm business specialist says there are four financial documents you need to prepare and share with your advisers before things get too busy

Reading Time: 1 minute Now is the time to review operating plans, investment plans and cash requirements for the upcoming year, says an Alberta Agriculture and Rural Development specialist. “The need to develop a strong business plan has been never greater,” said Rick Dehod. “With grain prices flattening, margins have been squeezed. Being proactive allows your business to strategically[...]
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