Farm cash receipts, January to September 2024

Released: 2024-11-26

Farm cash receipts for Canadian farmers totalled $70.6 billion for the first three quarters of 2024, down 3.0% (-$2.2 billion) from the same period in 2023. Receipts for crops (-$3.8 billion) and program payments (-$51.2 million) fell, while receipts for livestock (+$1.7 billion) rose.

Chart 1 
Total crop, livestock and direct payment receipts as a proportion of total farm cash receipts, January to September, Canada, 2014 to 2024

The declines in receipts in the Prairies and Quebec more than offset increases in receipts in the other provinces. Saskatchewan (-$1.5 billion) accounted for over two-thirds of the decrease in receipts compared with 2023.

Chart 2 
Farm cash receipts by category, by province or region, January to September 2024

Crop receipts down on lower prices for wheat and canola

Total crop receipts were down 9.2% to $37.6 billion in the first three quarters of 2024 compared with the same period in 2023, mainly due to a decrease in prices.

Receipts for wheat (excluding durum) (-$1.8 billion), canola (-$1.0 billion) and durum wheat (-$593.9 million) led the decrease, accounting for roughly 90% of the decline in total crop receipts in the first three quarters of 2024. Strong domestic and international supply contributed to the fall in prices for most major crops in 2024. In the first three quarters of 2024, prices were down 21.1% for wheat (excluding durum), 21.1% for canola and 15.5% for durum wheat.

Potato receipts had the largest increase among all crops in the first three quarters of 2024, up 10.1% to $1.6 billion due mainly to higher prices (+7.6%). Potato receipts in both Manitoba (+$94.9 million) and Alberta (+$56.2 million) posted significant gains on the strength of marketing increases, as weather conditions led to higher production in the Prairies.

Cattle prices drive up livestock receipts

Livestock receipts rose 6.3% to $29.0 billion during the first three quarters of 2024, due to increases in all sectors except poultry.

The gain in cattle receipts (+$1.1 billion) accounted for almost two-thirds of the increase in total livestock receipts in the first three quarters of 2024. Despite a lower number of cattle slaughtered, cattle receipts ($11.0 billion) were up due to higher prices (+13.5%). These price gains were caused by strong international demand as well as smaller herd sizes.

Hog receipts (+$229.2 million) rose to $4.7 billion in the first three quarters of 2024, due to a 5.1% price gain. Strong international demand for pork products led to an increase in hog prices and higher international exports kept hog marketings flat despite a decrease in slaughter.

Supply-managed receipts grew 1.6% to $11.3 billion and accounted for just under 40% of total livestock receipts. Dairy receipts increased (+$191.2 million) to $6.6 billion due to a rise in prices (+2.3%). Receipts for both chickens for meat (-$45.9 million) and turkeys for meat (-$10.1 million) decreased due to a decline in prices. Prices for turkeys levelled out after the record highs seen in recent years, brought on by lower supply due to avian influenza.

Decrease in program payments led by Quebec

Direct payments totalled $4.0 billion from January to September 2024, down 1.3% from the same period in 2023. Despite the decline, direct payments remained above the five-year average. Quebec (-$477.6 million) accounted for the greatest part of the decrease with lower provincial stabilization program payments. This was partially offset by the rise in crop insurance payments in most of the other provinces.

Contact information

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