Farm cash receipts, January to June 2023
January to June 2023
Farm cash receipts for Canadian farmers totalled $48.3 billion in the first two quarters of 2023, up $4.3 billion (+9.9%) from the same period in 2022. Both crop (+$4.7 billion) and livestock (+$1.2 billion) receipts increased from January to June 2023, while program payments fell $1.6 billion.
Every province recorded higher farm cash receipts, led by Saskatchewan, which accounted for half of the national increase.
Higher marketings in some key crops push crop receipts up
Total crop receipts were up 19.8% to $28.2 billion in the first two quarters of 2023 compared with the same period in 2022. The receipts for canola and wheat (excluding durum) led the way, accounting for over 60% of the growth in total crop receipts.
Higher marketings drove the increase in receipts for both canola (+28.6%) and wheat (excluding durum) (+38.5%). The gain in marketings stemmed from a return to normal production levels in 2022, following the severe drought in Western Canada in 2021.
Meanwhile, prices fell 16.7% for canola and 8.5% for wheat (excluding durum) in the first two quarters of 2023, although they were still higher than their five-year average.
Livestock receipts increase on the strength of cattle receipts
Livestock receipts rose 7.7% to $17.4 billion in the first two quarters of 2023. Increases in receipts for cattle and supply-managed commodities more than offset the decline in hog receipts.
Cattle receipts recorded the largest gain, up 20.5% to $6.2 billion, accounting for roughly 85% of the increase in livestock receipts. Every province posted higher cattle receipts. Although the number of cattle slaughtered and exported decreased 4.9% over the first two quarters of 2023, prices rose 28.3%, leading to growth in cattle receipts, particularly for cattle slaughter.
Higher receipts from dairy (+$241.9 million) and chickens for meat (+$240.3 million) contributed to an overall increase for supply-managed commodities, which rose 8.1% to $7.3 billion. Supply-managed receipts (dairy, eggs, chickens for meat and turkeys for meat) represented just over 40% of total livestock receipts.
Conversely, hog receipts fell 13.5% to $2.9 billion, with every province recording a decline except Newfoundland and Labrador, where there was no change. Depressed hog prices (-13.2%) and the lower number of hogs slaughtered and exported (-0.4%) contributed to this decrease, as the Canadian hog industry has been navigating through uncertainties recently. The decline in slaughter hog receipts accounted for over 80% of the drop in hog receipts.
Program payments decline following record year
During the first two quarters of 2023, program payments declined 36.5% to $2.7 billion. The decrease stemmed from a decline in crop insurance payments, which had hit record highs in 2022 because of a drought in 2021.
Program payments fell in seven provinces, with Alberta recording the largest decline (-$976.3 million), followed by Saskatchewan (-$557.5 million). In contrast, program payments were up in Quebec, Ontario and Nova Scotia.
Data on program payments in future releases will reflect the impact of current adverse growing conditions, such as drought and wildfires.
Note to readers
Farm cash receipts for January to September 2023 will be released on November 28, 2023, along with revised 2022 estimates of net farm income.
As a result of the release of data from the 2021 Census of Agriculture on May 11, 2022, data on farm cash receipts, operating expenses, net income, capital value and other data are being revised, where necessary. The complete set of revisions will be included in the next release.
All data in this release are in current dollars. Farm cash receipts measure the gross revenue of farm businesses. They include sales of crops and livestock products (except sales between farms in the same province) and program payments. Receipts are recorded when the money is paid to farmers. These do not represent their bottom line, since farmers have to pay their expenses and loans and cover depreciation.
Farm cash receipts are, for the most part, based on monthly marketings and the monthly prices of various commodities. Marketings are quantities sold, using various units of measure.
Data are extracted from administrative files and derived from other Statistics Canada surveys and/or other sources. These data are subject to revision.
For the latest information on the Census of Agriculture, visit the Census of Agriculture portal.
For more information on agriculture and food, visit the Agriculture and food statistics portal.
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