AAFC Forecasts Prosperous Future

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Agriculture and Agri-Food Canada released two reports yesterday projecting a prosperous future for Canadian farmers.

According to the Farm Income Forecast for 2011 and 2012, the average net operating income for farms in 2011 is expected to reach a record level of of just over $65,000. Farm incomes are expected to remain strong, but drop slightly in 2012.

The Medium Term Outlook for the next ten years is characterized by high grain and oilseed prices, compared with the pre-2006 period. Modest improvements are also expected for the red-meat industry.