Rising interest rates mean the federal government’s move to expand the interest-free portion of its advance payment program will save farmers — and cost government — more than originally expected. Last June, the government increased the interest-free amount that farmers can borrow through the cash advance program for 2022 and 2023 from $100 thousand to… Read More
Category: Finance
Each year, Canadian Cattle Young Leaders (CYL) selects 16 program participants ages 18-35 from across the country and offers industry networking, travel, and skill building opportunities. A focal point of the program is matching participants with a hand-picked mentor in their specific area of interest in the Canadian beef industry for a nine-month mentorship experience…. Read More
If the farm is waiting for the tax filing to sort out profit and loss, decisions are being made for close to a year, and maybe more, without a full financial picture.Budgeting may be up there on the favourites list with a root canal or unclogging toilets; it’s rare that someone really loves developing and… Read More
On September 7th, the Bank of Canada announced a rate increase of 75 basis points bringing the overnight rate to 3.25 per cent. The move wasn’t a surprise to many, yet begs the question, are we done yet? The increase is designed to curb consumer spending and ultimately blunt inflation, however, consumer spending isn’t always… Read More
As autonomy and emerging technologies take centre stage in agriculture equipment, MNP is shining the spotlight on the importance of the basis of ag-tech: data collection and tracking. Andrew Van Os, field optimization program lead with MNP, was a keynote speaker at Ag in Motion 2022 and says comparing data year-over-year, such as soil samples… Read More
Could volatile be the new normal when it comes to commodity markets? With volatility being the only constant over the past while, it is certainly something that farmers and marketers are getting used to as they continue to try and navigate their way through fluctuating prices and variables that seem to be ever increasing. With… Read More
You can’t manage what you don’t measure, so the saying goes, but what you measure is just as important.If you aren’t familiar with KPIs — key performance indicators — this episode of Mind Your Farm Business is for you.Measuring the right things is just as important as the initial step to begin measuring business performance,… Read More
What goes up must come down, but if you’re waiting for deflation to begin any time soon, you may be in for a long wait. Inflation — and the increasing interest rates designed to put a pin in it — is top of mind for every economist right now, and Farm Credit Canada’s chief economist… Read More
The federal government is increasing the interest-free portion of its Advance Payments Program (APP) from $100,000 to $250,000 for 2022 and 2023. Agriculture Minister Marie-Claude Bibeau announced the change to the cash advance program on Thursday, June 23. Agriculture and Agri-Food Canada says eligible producers will save an average of $5,500 in interest costs over… Read More
Commodity prices this spring has made watching the markets an exciting part of nearly every day, especially for farmers who are anticipating a satisfactory yield and who are biding their time locking in prices. However, with many volatile factors contributing to those prices, experts are saying to weigh options carefully and take assurances where you… Read More