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Monday, November 24, 2008

Sell your house, buy a tractor and start farming: advice from Jim Rogers as Canadian farm incomes show growth

Jim_rogersStatsCan reported today that net farm income was $2.2 billion in 2007, up from $1.2 billion in 2006 as higher grain prices more than offset operating cost increases from last year's high energy prices.

New data also shows this positive income trend should hold in 2008. Market receipts from the sale of crops and livestock totalled $30.5 billion between January and September, up 13.6% from the first nine months of 2007.

This news is no surprise to legendary global investor and commodities bull Jim Rogers. Rogers is extremely optimistic on the future of western Canadian agriculture. In an Agcapita press release announcing Rogers as an advisor to the Calgary-based agriculture investment fund, Rogers is quoted as saying to an audience of Toronto fund managers and investment bankers:

“Sell your houses, move to Saskatchewan, buy a tractor and some farmland, and start farming.” 

In a column published in the Western Standard on the important role of rural Canadians in environmental stewardship and the green economy, Preston Manning wrote:

“The time has come to rediscover and redefine those Canadians who occupy rural Canada and to value and compensate them accordingly....”

It looks like the market is beginning to reward the honest labour of rural Canadians without the interference of government.

(Disclosure: Agcapita investment director Stephen Johnston is my brother. He has an interest in the Western Standard, and I have an interest in Agcapita.)

Posted by Matthew Johnston on November 24, 2008 in Trade | Permalink


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