Last year was a carbon copy of 2015 for Saskatchewan’s farm enterprises.
We have now received the year-end assessment of income and expenses for the farm sector in the country for 2016. These reports tend to be a year behind but for Saskatchewan, agriculture remains a foundational element of our market.
Total revenues for last year were just over $14 billion, almost identical to the previous growing season. And that represents roughly a quarter of all farm revenue in the country which gives you a bit of a feel for our importance in the bigger picture. Interestingly, though, we have about half the farm land so we are still on the lower end of the revenue-per-acre scale.
Our producers are good financial managers though, as their profit or net earnings performance was stronger than most. At $4.1 billion, that accounts for almost half of all the profit generated by the industry nationally.
A significant piece of that metric is inventory. We had more crop in the bin at the end of last year than we did a year earlier, a fact that should offset any declines experienced in 2017.