New reports from Agriculture and Agri-Food Canada suggest 2013 should be another good year for most Canadian farmers.
Agriculture Minister Gerry Ritz said in a statement “The outlook shows that global demand for agricultural commodities will be driven by growth in developing economies, which is why our government continues to place such a strong emphasis on opening new and maintaining existing markets.”
The three reports cover 2012 and 2013, and examine the financial and market outlook while offering a benchmark to allow producers, stakeholders and governments to plan ahead.
Overall, it seems that 2013 will be another good year for farmers, following near record-high income levels in 2012. High commodity and livestock prices are being credited.
If weather conditions are normal, the reports indicate Canadian grains and oilseeds prices won’t be as high as in 2012, but will still be above historical levels for the near future.
A strong Canadian dollar and higher feed prices are expected to remain challenges for the cattle and hog sectors, but modest growth is still expected.
