Record farm income in Saskatchewan

The latest farm income numbers from Statistics Canada show that 2008 and 2009 were record high years for farm income in Saskatchewan. In both years, realized net income on Saskatchewan farms topped $1.6 billion, the highest levels ever. For 2009, the realized net income from Saskatchewan represents half of the realized net income for the entire country. The next highest after Saskatchewan’s $1.6 billion is Quebec at about $874 million, followed by Manitoba at $553 million. Realized net farm income in Alberta was less than $264 million, while Ontario was a paltry $13 million. Statistics Canada also provides information on the total value of farm capital in each province. This is the total value of livestock, land, buildings and machinery. For 2009, Alberta leads the nation with a total value of farm capital that exceeds $89 billion. Next is Ontario at $72 billion.

Saskatchewan has more farmland than any other province, but it’s also the least expensive land in the country. As a result, Saskatchewan’s total value of farm capital comes out to $43.5 billion. Despite this lower value of farm capital, Saskatchewan has been eclipsing Alberta and Ontario on farm income levels, due largely to grain prices that have improved dramatically since the middle part of the decade.

I’m Kevin Hursh.

DynAgra, an independent Western Canada-based Company, is dedicated to providing growers with the tools to manage the risk and maximize the profitability of their farm business through the continued innovation of agricultural products and services. We are committed to developing and providing growers with the latest in precision agronomics, variable rate technology, soil fertility, crop protection, fertilizers, custom application and financial solutions.