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Farm Income to Drop for 2016 and 2017 as Livestock Prices Weaken: Forecast

(Canadian Press)

Net cash income for farmers is forecast to dip slightly for both 2016 and 2017 as livestock producers take a hit from swelling herds of both cattle and hogs in Canada and the U.S.

Overall net cash income in 2016 is estimated to slip by two per cent to $14.8 billion, with another seven per cent decline in 2017 to $13.8 billion

Agriculture and Agri-Foods Canada’s 2017 outlook, released Friday, predicts that grain farmers will see rising incomes for both years as last year’s bumper harvest moves through the markets, but livestock producers will lose ground.

Crop receipts are forecast to increase two per cent to $32.6 billion for 2016 and rise another one per cent, to $32.9 billion, in 2017.

Livestock receipts are expected to be down seven per cent for 2016 to $23.9 billion, with a further decline of four per cent for 2017. Click here to read more.

Related: 2017 Canadian Agricultural Outlook (Agriculture and Agri-Food Canada)