Farm cash receipts from crops decreased in the first six months of the year as compared to 2023 while livestock receipts were higher.
According to Statistics Canada, farm cash receipts for Canadian farmers totalled $47.4 billion in the first two quarters of the year, down $1.6 billion from the previous year.
Crop receipts fell $3.3 billion while livestock receipts increased by $1.5 billion. The 11.4 per cent decline in crop receipts is attributed to price declines in most crops. The 8.5 per cent increase in livestock receipts came from higher prices led by cattle receipts.
With Saskatchewan’s agriculture sector dominated by crops, it comes as no surprise that the province had the country’s largest drop in farm cash receipts – down $1.1 billion from the same time period last year.
