(Photo courtesy of Sharon Drummond via Flickr)(Photo courtesy of Sharon Drummond via Flickr)
Sarnia

FCC: Lower Loonie Impacting Crop, Livestock Sectors

The lower Canadian dollar has had a major impact on the Canadian crop and livestock sectors.

That's according to Farm Credit Canada economist Leigh Anderson.

FCC says examples of that include a 4 per cent increase in Ontario corn prices this year while U-S prices were down by 10 per cent.

And while cattle and calf prices were up between 3 and 10 per cent in the U-S this year, Canadian prices were up 20 per cent.

Anderson says low interest rates have helped agricultural operations and agri-businesses leverage growth opportunities and make investments to position themselves for long-term success.

Despite the slowing of the Chinese economy, Anderson says China will remain a growing market for Canadian agriculture.

And while the Trans Pacific Partnership was perhaps the biggest economic story of 2015, the FCC economist suggests it will take some time to determine it's impact on the agriculture sector.

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