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Net Farm income jumps in Saskatchewan

StatsCan is reporting Saskatchewan had the largest increase in net farm income in 2015.
 
Net farm income in Saskatchewan reached 2.9 billion dollars, up from 1.6 billion the previous year.
 
Lentils, a crop grown mainly in Saskatchewan, contributed the most to the growth in crop receipts in 2015.
 
Lentil receipts more than doubled as prices rose 57 per-cent.
 
Marketings were up 33 per-cent, as production hit a record level.
 
Increased exports, mainly to India, contributed to the rise in receipts.
 
The depreciation of the Canadian dollar relative to the U.S. dollar supported farm prices.
 
But increased global grain stocks put downward pressure on world prices.
 
However, Canadian farm-gate prices for most grains were up from 2014.
 
Nationally, livestock receipts reached 25.7 billion dollars in 2015, down 0.2 per-cent from the previous year, the first decrease since 2009.
 
This followed a 19 per-cent jump in 2014.
 
Lower hog prices pushed receipts down 17 per-cent.
 
In contrast, cattle receipts increased for the sixth straight year, rising seven per-cent to 10.5 billion dollars.
 
A 20 per-cent gain in prices more than offset an 11 per-cent drop in cattle marketings.
Total farm operating expenses rose 1.2 per-cent, the smallest increase since 2010 and reflected lower fuel prices.
 
Source : CKRM

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