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Sarnia

Canadian Third Quarter Farm Cash Receipts Well Below 2015

Canadian farm cash receipts for the first three quarters of 2016 are down 0.2 per cent from last year.

After this year's first quarter increase of 5.9 per cent was followed by a 2.5 per cent gain in the second, farm cash receipts in the third quarter saw an 8.8 per cent decline.

Statistics Canada reports Ontario's year-over-year decline from January to September was slightly below the national average, decreasing 0.3 per cent.

Livestock receipts have been down in all three quarters this year.

StatsCan notes cattle and calf prices so far this year have dipped by nearly 21 per cent from last year but are still more than 15 points better than the five-year average.

The department notes receipts for hogs are up 1.9 per cent from last year simply due to the large increase in hogs numbers hitting the market.

StatsCan is also reporting revised annual farm cash receipts were up by 10.7 per cent in 2015.

Much of the gain is credited to big marketings of crops and livestock through a strong demand for exports.

Total net income last year rose by $3.5 billion, following a $7.6 billion decline in 2014.

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