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Farm cash receipts
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Market receipts of Canadian farmers from the sale of crops and livestock totalled $19.9 billion between January and June 2008. Strong grain and oilseed prices were mostly responsible for the 12.4% increase over the first six months of 2007. Revenues from January-to-June 2008 stood 25.7% above the previous five-year average (2003 to 2007).
Receipts for crop producers climbed to $11.0 billion in the first half of 2008, exceeding livestock receipts for the first time in 12 years. Crop receipts were up 30.8% and stood 56.9% above the previous five-year average for a January-to-June period, largely due to higher prices resulting from tight world grain supplies and strong demand.
Livestock receipts decreased 4.3% to $8.8 billion during the first six months of 2008. The average price received by hog producers was 21.7% below the price for the first half of 2007, as robust US hog production and the higher Canadian dollar continued to pressure prices downward.
Including program payments, farmers' revenue reached $22.0 billion from January-to-June 2008.
Program payments totalled $2.2 billion in the first half of 2008, down 2.9% from the same period in 2007, and 14.8% below the previous five-year average for a first half-year. This decline was due in part to improved prices in the grain and oilseed sector.
Note: Farm cash receipts measure gross revenue for farm businesses only. They do not represent their bottom line, as farmers have to pay their expenses and loans and cover depreciation. Information on net farm income for 2007 was released on May 26, 2008. Preliminary information on net farm income for 2008 will be available in May 2009.
Farm cash receipts include sales of crops and livestock products (except sales between farms within the same province), and program payments. They are recorded when the money is paid to farmers. With the release of 2006 Census of Agriculture data in May 2007, estimates of farm cash receipts, operating expenses, net income, capital value and other data in the Agriculture Economic Statistics series are being revised where necessary. The complete set of revisions is scheduled for release on November 24, 2008.
Available on CANSIM: table 002-0002.
Definitions, data sources and methods: survey numbers, including related surveys, 3437 and 3473.
Data tables are available from the Summary tables module of our website.
To order data, contact Client Services (toll-free 1-800-465-1991; fax: 613-951-3868; agriculture@statcan.gc.ca). For more information, or to enquire about the concepts, methods or data quality of this release, contact Heather Miller (613-951-0309; heather.miller@statcan.gc.ca) or Estelle Perrault (613-951-2448; estelle.perrault@statcan.gc.ca), Agriculture Division.
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