Almost Half Of Canadian Farm Income Coming From Off-Farm Sources
Statistics Canada has released it’s final total farm income figures for 2014.
They show average total income of farm operators in Canada was up 1 point 7 per cent from 2013 to just over 95 thousand dollars.
Statscan also reports almost half that income came in the form of off-farm income – at 49 point 2 per cent.
That was up 1 per cent from 2013.
Hog and pig farm operators reported the biggest gain in 2014 at just over 106 per cent.
Beef cattle farm operators posted a 24 point 2 per cent increase in average income in 2014.
Farm operators engaged in other animal production, oilseed and grain farming or poultry and egg production saw their average total income fall in 2014.
Six provinces posted average farm income increases.
Ontario was one of the four posting a drop, coming in 1 point 1 per cent below 2013.
And Statscan says farm operators in Newfoundland and Labrador earned the highest total farm income – $110,691 – for the second year in a row.
Operators in Alberta – at $108,743 – and Saskatchewan – at $105,292 – were second and third.