Canada Markets
Canadian Farm Cash Receipts Data Shows Crops Losing Dominance
Total farm cash receipts, defined by Statistics Canada as crop and livestock receipts as well as payments from programs, are 2.6% higher in the January-through-September period or the first three quarters of the calendar year at $41.8 billion.
Today's report shows shifting fortunes from the crop to the livestock sector in the country, with total crop receipts in Canada in the first nine months of 2014 3.5% lower than in 2013 at $21.986 billion, while livestock receipts are 15.5% higher than the first three quarters of 2013 at $18.404 billion.
Data for the most recent quarter (July through September) shows crop receipts $584.51 million higher than livestock receipts, which is the narrowest this spread has been since the third quarter of 2010. Since the second quarter of 2007, quarterly data shows crop receipts consistently exceeding livestock receipts in the country, while prior to that time, livestock receipts in the country consistently topped crop receipts since the first quarter of 1999.
By crop, the largest swing in crop receipts when comparing the first three quarters of 2014 to the same period in 2013 was found in the cereal grains. As seen on the attached chart, barley receipts were 24.3% lower, corn receipts were 17.5% lower, oats were 12.1% lower and receipts for both wheat and durum were reported to be 8.6% lower than the same period in 2013.
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On a percentage basis, those crops showing receipts in the first nine months which were higher than 2013 were dry beans at 23.6% higher, flax at 9.5% higher, lentils at 8% higher and canola 4.7% higher than year-ago values.
As seen on the attached chart, the largest gains in livestock receipts were seen in receipts from cattle and calves that was 31.8% higher in the first nine months of 2014, while hogs were right behind at a 30.6% increase.
Also seen on the attached chart, farm cash receipts by province were 1.3% higher in Ontario, 2.5% higher in Saskatchewan, 3.5% higher in Alberta and 5.6% higher in Manitoba.
Canadian Agriculture Story of the Year
As the end of the calendar year approaches, DTN will look back at the top agriculture stories of the year. We would like your thoughts on what Canadian issues or events are found at the top of your Canada list in 2014. Please drop us a line (cliff.jamieson@dtn.com or elaine.shein@dtn.com) and share your thoughts! Thank you!
Cliff Jamieson can be reached at cliff.jamieson@dtn.com
Follow Cliff Jamieson on Twitter @CliffJamieson
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