![]() ![]() Marketings are quantities sold, using various units of measure.ĭata are extracted from administrative files and derived from other Statistics Canada surveys and/or other sources. These do not represent their bottom line, since farmers have to pay their expenses and loans and cover depreciation.įarm cash receipts are, for the most part, based on monthly marketings and the monthly prices of various commodities. Receipts are recorded when the money is paid to farmers. They include sales of crops and livestock products (except sales between farms in the same province) and program payments. Farm cash receipts measure the gross revenue of farm businesses. ![]() Preliminary estimates of net farm income for 2022 will also be available on May 25, 2023.Īll data in this release are in current dollars. The next quarterly release of Farm Cash Receipts will occur on May 25, 2023, and will include data for January to March 2023. Just over 80% of the program payments increase was a result of crop insurance (+$1.1 billion) and over 90% of these payments went to Alberta, Saskatchewan and Manitoba. The 2021 drought in the Western provinces affected the amount and quality of crops that could be harvested at that time. Total direct payments rose by $1.4 billion (+23.6%) to $7.3 billion in 2022 as compared with the previous year. Crop insurance accounts for majority of program payments Dairy receipts increased 11.4% to $8.2 billion, mainly as a result of an increase in price (+11.3%). All supply managed receipts were positive, with dairy receipts leading the way. Supply managed receipts were up 12.8% to $14.1 billion and accounted for just over 40% of livestock receipts. Strong hog prices more than offset the lower number of hogs that were marketed for both slaughter and exports. Cattle slaughter receipts increased by 15.4%, while cattle exports receipts were also positive. Although the number of cattle were fairly constant (+0.5%), the increase in prices (+14.0%) translated to higher receipts (+16.4%) for cattle. Livestock receipts increased by $3.6 billion (+12.1%) to $33.6 billion in 2022 compared with 2021.Ĭattle receipts ($10.8 billion) accounted for just over 40% of the increase in livestock receipts. Higher livestock prices lead to higher receipts Soybeans, which are mostly grown in eastern Canada, had receipts increase by 30.1% to $4.1 billion on increases of both marketings (+6.4%) and prices (+22.3%).ĭurum wheat and flaxseed were the only major crops that had a drop in farm cash receipts. This was also reflected in the international market as a lower quantity of wheat (except durum wheat) was exported but the value exported increased 21.9% due to high demand.Ĭanola also followed this trend as receipts increased by 13.4% to $13.7 billion on a rise of 38.9% in price and a drop of 18.4% in marketings. This was driven by a 42.0% increase in price, which occurred alongside a drop of 9.7% in marketings. The drop in marketings in 2022 was the result of low beginning inventories for most major crops to start the calendar year, and despite better growing conditions relative to 2021 when drought negatively impacted crop production in Western Canada.įarm cash receipts for wheat (except durum wheat) led the way with an increase of 28.2% to $9.2 billion. Higher farm cash receipts were a result of higher crop prices which more than offset the drop in marketings in many of the major crops. ![]() Higher crop prices more than offset the drop in marketingsĬrop receipts rose by $6.7 billion (+14.1%) to $53.9 billion in 2022 from 2021. ![]()
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