The Bank of Montreal on Thursday forecast that Canada’s agricultural sector will grow by between 3.5 and 4.0 percent this year barring major flooding that may hurt crop yields.
The experts think that the crop segment is expected to grow faster than its livestock counterpart, where activity will be limited by smaller breeding herds and high feeding costs. Canadian farmers are likely to continue to experience solid financial performance this year, with crop and livestock prices expected to remain buoyant and output rising on stronger demand and improved yields.
I think that this is very good news! However, I am still very concerned that the corporate agricultural business will take most of it, if not all of the increase in the market, leaving the farmers once again without an increase in profit.
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