Reading Time: 2 minutes With oil prices bottoming out around $30 a barrel, oil companies are scrambling to save money — sometimes at the expense of farmers. “Some companies are just deciding not to pay the annual rentals,” said Daryl Bennett, who represents the Action Surface Rights Association in southern Alberta. Last year, the Surface Rights Board had more […] Read more
Oil bust could mean skyrocketing property taxes
Some Alberta municipalities are being hit hard as oil companies stop paying
Canola crush margins hit best levels in months
CNS Canada –– Canola crush margins have improved considerably over the past few weeks, hitting levels not seen in over six months, as vegetable oil prices rose and the Canadian dollar dropped. Crush margins provide an indication of the profitability of the product values relative to the seed cost when processing canola, with exchange rates […] Read more
Global markets: Japan, Germany cut economic forecasts
CNS Canada –– The following is a glance at the news moving markets globally. JAPAN CUTS INDUSTRIAL PRODUCTION, ECONOMIC OUTLOOK – The Japanese government downgraded its assessment of industrial production and identified some areas of weakness in a monthly government report released on Wednesday. The reduced forecast for industrial production is due to weaker demand […] Read more
The sizzling market for farmland may be ready to take a breather
Alberta land prices are still heading up, but double-digit annual rises appear to be over for now
Reading Time: 3 minutes The red-hot market for farmland is showing signs of cooling off. “The more recent sales are still showing some increase, but the increases aren’t what they have been previously,” said Dave Weber, an appraiser with Serecon, an agricultural consulting company. Alberta farmland values were increasing about one per cent a month during 2011 and 2012, […] Read more
Budget cuts have applied research associations reeling
Election 2015: Producer-run research groups raised salaries and upped spending when funding doubled, but now that extra money has been taken away
Reading Time: 2 minutes Alberta’s applied research organizations are facing a financial crisis following the government’s “clawback” of two funds earmarked for research and innovation. “We realize that with the drop in oil prices and the model that the government is funded under, everything had to take a hit,” said Ian Murray, chair of the Agricultural Research and Extension […] Read more
Cheaper crude clouds Canada’s economic fortunes
While dropping oil prices have boosted the U.S. economy, how the price slump will affect the outlook north of the border remains a question mark from where Canada’s largest lender sits. “In Canada, it’s a little bit less clear-cut. And the reason is our energy sector is much larger as a share of the overall […] Read more
Don’t expect diesel, fertilizer, and chemicals to match oil’s steep decline
Experts say it’s a mixed bag when it comes to input costs
Reading Time: 4 minutes Falling oil prices are bad news for energy producers, but that should be good news for farmers and other big users of fuel and energy-intensive products. “We’re paying 30 or 40 cents a litre less for gas today than we were three or four months ago,” said Michael Burt, director of industrial economic trends with […] Read more
Consumers are richer, but their diets likely won’t be
Consumers will have more cash to spend, but very little will go towards bumping up their food spending
Reading Time: < 1 minute Consumers are starting the year with a little more jingle in their jeans thanks to the drop in oil prices. “About six or seven per cent of people’s spending in a year is just on gasoline,” said Michael Burt, director of industrial economic trends with the Conference Board of Canada. “If you’re suddenly giving people […] Read more
Oil price plunge will affect Alberta agriculture and the beef sector
The loonie has followed oil prices down and this will impact everything from feeder prices to packing plant utilization
Reading Time: 3 minutes The price of crude oil has fallen a long way since hitting $110 in July 2013 — and the debate on how long this drop will last, and what it will do to the economy, will continue for some time to come. The plunge in oil prices will create winners and losers — the question […] Read more
How the plunge in oil prices and the loonie affects you
From inputs and labour to the complex ramifications for the beef industry, the drop in oil prices and the dollar is changing the farm landscape
Reading Time: 2 minutes A plunging loonie and free-falling oil prices will create winners and losers — and farmers will clearly be in the winners’ circle, according to one of Alberta’s top economists. “Agriculture, forestry and tourism will all do well,” said Todd Hirsch, senior economist with ATB Financial. “It’s really a big benefit to agriculture that we are […] Read more
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