STATCAN: Realized net income for Canadian farmers fell 7.6% to $11.8 B in 2022

Nov 29, 2023

Realized net income for Canadian farmers fell 7.6% to $11.8 billion in 2022, as growth in expenses outpaced the rise in farm cash receipts. The decrease in 2022 followed a 69.6% gain in 2021 and a 101.6% increase in 2020. Excluding cannabis, realized net income in 2022 was down 5.9% to $11.8 billion.

Realized net income is the difference between a farmer’s cash receipts and operating expenses, minus depreciation, plus income in kind

In 2022, total farm cash receipts increased by 14.6% compared with 2021. Higher prices resulted in Canadian farmers receiving more receipts for both crop (+$7.1 billion) and livestock (+$3.6 billion) products in 2022. However, an 18.6% increase in total expenses pushed realized net income lower. Farmers faced higher costs for key agricultural inputs, including fertilizer, feed and fuel.

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Video: California Farm Bureau 2025 Farm Dog of the Year Contest Winner - Willy - CAFB 107th Annual Meeting

Meet Willy: California Farm Bureau’s 2025 Farm Dog of the Year!

We’re excited to introduce Willy, a miniature long-haired dachshund with a big heart and even bigger courage, and the Grand Prize winner of this year’s Farm Dog of the Year Contest!

Willy may be small, but he’s become an indispensable partner on owner Marshal Hagedorn’s forestry and cattle operations in Shasta, Tehama, and Siskiyou counties. Adopted in 2023, he quickly found his place on the ranch, helping manage critters, tagging along for long days in the woods, and offering unwavering companionship during demanding logging work.

Willy has even taken naturally to moving cattle, surprising calves (and more than a few full-grown cows!) with his burst of energy from the tall grass. As Marshal put it: “He goes with me everywhere every single day.”

Congratulations to Willy and his family, a perfect example of how every good farm dog, no matter the size, helps keep California agriculture running strong.