Wed, 01 Dec 2021

OTTAWA, Nov. 24 (Xinhua) -- Farm cash receipts for Canadian farmers totaled 58 billion Canadian dollars (about 45.8 billion U.S. dollars) over the first three quarters of 2021, up 11 percent from the same period in 2020, according to Statistics Canada on Wednesday.

Statistics Canada attributed the increase to the higher receipts for livestock and crops driven primarily by increases in prices and high demand.

Every province had increases in total receipts, with Alberta rising 1.8 billion Canadian Canadian dollars and Saskatchewan up 1 billion Canadian dollars, accounting for half of the increase.

Actually, the majority of farmers in western Canada contended with higher-than-average temperatures, drought conditions throughout the growing season, as well as forest fires. These events have resulted in reduced crop yields and higher feed costs for all provinces.

Crop receipts which are based on the strong 2020 crop production jumped 9.6 percent to 33.5 billion Canadian dollars in the first three quarters.

International demand and lower inventories pushed prices higher and resulted in all grains and oilseeds except for soybeans, having positive receipts.

Excluding cannabis, crop receipts would have risen 9.9 percent.

Canola receipts, which rose 1.3 billion Canadian dollars, represented almost half of the increase in total crop receipts.

Total wheat receipts, which were up 1.1 billion Canadian dollars, accounted for almost 40 percent of the increase in total crop receipts.

Cannabis receipts rose 6 percent to 2.3 billion Canadian dollars in the first three quarters of 2021, representing 7 percent of total crop receipts.

Meanwhile, livestock receipts soared 14.8 percent to 22.1 billion Canadian dollars during the first three quarters of 2021.

Domestic and international demand, coupled with high feed prices, have resulted in extremely high prices for hogs. International hog export receipts have doubled from the first three quarters of 2020, as animals were moved south due to labor disruptions at plants which reduced processing capacity.

Total cattle receipts jumped 9.7 percent to 6.9 billion Canadian dollars, mostly attributable to slaughter cattle receipts which were up 15.1 percent due to both increases in the number of animals slaughtered and prices, which offset the decreases in international export of cattle where the number of cattle and prices fell.

More Winnipeg News

Access More

Sign up for Winnipeg News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!