Statistics Canada released 2016 farm financial statistics on Wednesday. Total farm cash receipts for 2016 were reported at a record $60 billion and are .5% higher than reported in 2015, which is the smallest year-over year increase seen in six years. Total crop receipts grew by $1.851 billion or 5.8% to a record $33.788 billion, while total livestock receipts fell $1.837 billion or 7.2% to a three-year low of $23.796 billion.
Total crop receipts exceeded livestock receipts for the tenth consecutive year, having trailed returns from livestock in all but two years in Statscan data reported for the 1971 to 2006. The current spread between crop and livestock receipts of approximately $10 billion for 2016 is a record, or the widest that this spread has been reported.
By crop, receipts from wheat (excluding durum) have fallen 11% to $4.475 billion, a four-year low. As a percentage of total crop receipts, wheat makes up 13.2%, which is a six-year low and well below the 17% reached in 2013 that is the highest level calculated since 2000. Crop receipts generated selling canola reached $9.238 billion in 2016, a record level. As a percentage of total crop receipts, this represents 27.3%, which is a four-year high. Receipts generated selling soybeans are reported at a record $2.884 billion, up 20.7% from 2015, while as a percentage of total crop receipts, makes up 8.5%, which is the highest ever.
Recent years have shown a rapid rise in receipts originating from the sale of pulse crops. In 2016, lentil receipts totaled $2.006 billion, down 11% from the previous year but the second highest ever. This dollar value has grown by 759% since 2000 and makes up 5.9% of total crop receipts in 2016, down from a high of 7.1% in 2015. Dry pea receipts are reported at a record $1.458 billion in 2016, up 67.6% from 2015. This dollar value is up 440% from year 2000 and accounts for 4.3% of total crop receipts in 2016.
By province, crop receipts in Ontario totaled $6.612 billion in 2016, or 19.6% of the country's total. This is a record for the province, although as a percentage of Canada's total crop receipts, Ontario's share has fallen for four consecutive years and the 19.6% is the smallest percentage shown in data going back to 2000, with a recent high reached of 26.5% in 2005. Corn and soybeans are the monster crops in the province, making up 44% of the total crop receipts in 2016. Soybean receipts reached a record $1.664 billion while corn receipts reached $1.250 billion, a three-year high.
Manitoba crop receipts were reported at $3.573 billion, a record for the province. This represents 10.6% of the country's cash receipts, which has ranged from 9.2% to 13.2% since 2000. Canola receipts reached a record $1.344 billion for the province, while soybean receipts reached a provincial record of $544.949 million.
Saskatchewan crop receipts totaled $11.409 billion in 2016, a record for the province. This dollar value makes up 33.8% of the national crop receipts, down from 35.1% from 2015 but the second highest seen in data going back to 2000. Canola receipts jumped to a record $4.987 billion. Wheat receipts fell to a four-year low of $1.652 billion while dry pea receipts reached a record $782.4 million and lentil receipts fell from the 2015 record to $1.782 billion.
Alberta's crop receipts reached a record $6.672 billion in 2016. This represents 19.7% of Canada's total crop receipts, up slightly from last year but below the recent high of 22% reached in 2012. Receipts from wheat are reported at $1.651 billion, a five-year low. Receipts from selling canola were reported at a four-year high at $2.850 billion.
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