Agriculture and Agri-Food released it's 2015 outlook today.
According to the report, net incomes for Canadian farmers will reach a record level in 2014. Those incomes will drop slightly in 2015 accroding to the preliminary forecast.
One of the factors for the drop, lower grain and oilseeds receipts.
The 2015 outlook also predicts livestock receipts will not change significanlty from a robust 2014 because of tight markets. Hog producers may see a return to long term average incomes after a surge in 2014.
Dariy and poultry sectors are expected to stay steady as prices and costs of production hold steady.
Program payments in Ontario are expected to be slightly higher in 2015 after a drop in 2014 due to healthy returns in agriculture.
Average total income of farm families, which includes the family's share of net operating income from the farm and other family income, is projected to reach $131,595 in 2014 and $134,931 in 2015. Average net worth per farm is expected to set new records of $2.0 million in 2014 and $2.1 million in 2015.
