By Dori Modney (@Dori_Modney on Twitter) with files from The Canadian Press and Agriculture Canada

Farm Incomes Vary Across Canada But Most Remain Average

Aug 19, 2016 | 2:33 PM

OTTAWA:   Statistics Canada has released its final total farm income figures for 2014 and six provinces posted average farm income increases.

Statscan says farm operators in Newfoundland and Labrador earned the highest average total farm income that year — of just under $110,000.

Operators in Alberta – came in at just under $109,000.   Ontario was one of the four posting a drop, coming in 1.1 per cent below 2013.

Off-farm income accounted for just over 49 per cent of the total income of farm operators in 2014, up from a little over 48 per cent in 2013
 
Net cash income in 2015 is estimated to increase by 6% over 2014, reaching a record $15.0 billion.
 
A decline of 9% to $13.6 billion is expected this year…however, that is still 14% higher than the 2010-2014 average. More information on
the 2016 Canadian Agricultural Outlook can be found at Agriculture and Agri-Food Canada
 
Other statistics of note:
 
— Average farm-level net operating income in 2015 is forecast to be $77,287, which is 8% higher than 2014.

— Average net worth per farm is expected to reach $2.7 million in 2016.

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— The low Canadian dollar has improved the competitiveness of Canadian agriculture and food products in export markets, contributing to higher farm cash receipts.

— Livestock receipts in Canada are expected to increase by 2% to $26.2 billion in 2015.

— Crop receipts are expected to have increased 2% to reach $30.7 billion in 2015, and remain virtually unchanged at $30.6 billion in 2016.

— Lower crude oil prices are significantly reducing farmers’ diesel and gasoline expenses.

— Strong conditions over the past several years have contributed to a decline in program payments in 2015, down to $2.1 billion.