Farm cash receipts totalled $98.6 billion in 2023, up 3.6% (+$3.4 billion) compared with 2022
Livestock receipts and crop receipts increased, while program payments fell. Livestock receipts were up primarily because of gains for cattle, while crop receipts had mixed results. A drop in crop insurance payments led to the decrease in total program payments.
All provinces posted increases in farm cash receipts in 2023, compared with 2022, except Ontario, where receipts were flat. Saskatchewan (+$1.5 billion) and Alberta (+$1.0 billion) led the gains.
Livestock up on higher cattle receipts
Livestock receipts rose 9.8% to $37.3 billion in 2023 because of increases in the cattle and supply managed sectors.
The gain in cattle receipts (+$2.7 billion) represented just over 80% of the total increase in livestock receipts. Total cattle receipts ($13.5 billion) were up because of a rise in cattle prices for both slaughter and exports. This may have been caused by strong demand in the Canadian and US markets and higher input costs for producers.
Supply managed receipts grew 5.7% to $14.9 billion and accounted for 40% of total livestock receipts. This growth may have been caused by price increases, reflecting higher production costs. Dairy receipts rose 3.9% to $8.6 billion and were the main driver of the increase in supply managed receipts. At the same time, both marketings and prices pushed up receipts for chickens for meat by $292.9 million to $4.1 billion.
Meanwhile, hog receipts declined 10.3% from 2022 to $5.9 billion in 2023. Reduced domestic and international demand for Canadian pork may have contributed to the price drop of 11.5%.
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