Markets and Statistics Index: http://www.gov.mb.ca/agriculture/markets-andstatistics/index.html AGRICULTURE statistics MANITOBA FARM INCOME 2017 Farm cash receipts reached a new record at $6.51 billion in 2017, besting the previous high $5.98 billion set in 2014. Sales of crops and livestock are reported at $4.09 billion and $2.24 billion respectively, while program payments shrank to $178 million, which is the lowest since 1998! Crops: Crop marketing receipts in 2017 totaled a record $4.09 billion, 13% higher than last year s record of $3.62 billion. It was a firing on all cylinders kind of year with number one position canola edging out a new record of $1.37 billion, 2% above last year while wheat receipts jumped 21.6% to $1.05 billion on higher prices and strong yields and bettered the 2013 record in the process! Soybean acreage topped the 2016 record by an amazing 44%, helping drive receipts up 32.5% to $722 million. Livestock: Livestock cash receipts were $2.24 billion in 2017, up 5% from 2017. Cattle and calves were 1.9% lower at $543 million while hog receipts were up 8.0% at $1.07 billion, compared to 2016. Cattle prices were up 3%, while marketings were down 4.7%. Both hog prices and marketings were up, 5.0%, and 1.2%, respectively, compared to 2016. Farm cash receipts for dairy were up 10.9% over 2016 to $280 million while poultry receipts were up 0.7% to $261 million. Programs: Program payments are estimated to be $178 million, 20% lower than 2016 and the lowest since 1998. 2017 operating expenses were $4.86 billion, up 2.9% from 2016. Net cash incomes grew 32% from 2016 to reach $1.65 billion, thanks to higher income from sales of crops and livestock as well as an increase in the value of crop inventories. Realized net income jumped to $972 million, up 67.2% from 2016. Total net income in 2017 nearly doubled from 2016, reaching $1.28 billion. Page 1 of 5
FARM INCOME SUMMARY, MANITOBA, 2015-2017 Aggregate Farm Cash Receipts, 2015 2016 R 2017 2016/15 2017/16 Expenses & Income - million dollars - %* %* Crop Receipts 3,189.8 3,598.3 4,093.2 113 114 Livestock Receipts 2,372.4 2,128.2 2,236.3 90 105 Total Payments 304.5 221.8 178.1 73 80 Total Cash Receipts 5,866.7 5,969.0 6,507.7 102 109 (-) Net Operating Expenses 4,693.6 4,718.6 4,857.0 101 103 (=) Net Cash Income 1,173.1 1,250.4 1,650.7 107 132 (+) Income-in-kind 5.2 4.6 4.7 88 102 (-) Depreciation 675.0 673.5 683.5 100 101 (=) Realized Net Income 503.3 581.4 971.9 116 167 (+) Value of Inventory Change 229.3 87.9 312.5 38 356 TOTAL NET INCOME 732.6 669.3 1,284.4 91 192 Source: Statistics Canada, CANSIM 002-0001 and 002-0009 Manitoba Agriculture, Foresight and Analysis, 2018-05-28 * Totals may not add due to rounding. Also the calculation of percent change involving a negative number yields a counter-intuitive, though arithmetically correct result. Page 2 of 5
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FARM INCOME SUMMARY, PROVINCES, 2015-2017 Aggregate Farm Cash Receipts, Expenses & Income BRITISH COLUMBIA 2015 2016 R 2017 2016/15 2017/16 Page 4 of 5 million dollars %* %* Crop Receipts 1,559.0 1,595.0 1,641.3 102 103 Livestock Receipts 1,517.9 1,462.8 1,534.3 96 105 Total Payments 36.7 29.7 38.6 81 130 Total Cash Receipts 3,113.6 3,087.5 3,214.2 99 104 Net Operating Expenses 2,657.9 2,700.5 2,790.6 102 103 Net Cash Income 455.7 387.0 423.6 85 109 Income-in-kind 5.8 5.2 5.4 90 104 Depreciation 409.8 419.6 434.4 102 104 Realized Net Income 51.6-27.3-5.4-53 20 Total Net Income 95.6 4.1 18.0 4.2 443 SASKATCHEWAN Crop Receipts 11,219.0 11,440.1 11,039.9 102 97 Livestock Receipts 2,630.0 2,093.7 2,262.3 80 108 Total Payments 585.5 666.6 749.3 114 112 Total Cash Receipts 14,434.4 14,200.4 14,051.5 98 99 Net Operating Expenses 8,819.8 9,166.7 9,285.3 104 101 Net Cash Income 5,614.6 5,033.7 4,766.3 90 95 Income-in-kind 7.2 6.4 7.2 89 112 Depreciation 1,601.2 1,629.4 1,683.6 102 103 Realized Net Income 4,020.7 3,410.8 3,089.9 85 91 Total Net Income 3,492.2 4,258.3 3,338.3 122 78 ALBERTA Crop Receipts 6,164.4 6,674.3 6,934.1 108 104 Livestock Receipts 6,775.3 6,130.9 6,415.6 90 105 Total Payments 652.6 696.4 764.1 107 110 Total Cash Receipts 13,592.2 13,501.6 14,113.9 99 105 Net Operating Expenses 10,411.5 10,113.7 10,495.7 97 104 Net Cash Income 3,180.7 3,388.0 3,618.2 107 107 Income-in-kind 13.7 11.7 11.8 86 101 Depreciation 1,718.5 1,747.7 1,807.2 102 103 Realized Net Income 1,475.9 1,652.0 1,822.8 112 110 Total Net Income 1,243.1 2,216.6 2,210.8 178 100 ONTARIO Crop Receipts 6,369.7 6,731.5 6,452.9 106 96 Livestock Receipts 6,164.2 6,068.9 6,350.1 98 105 Total Payments 315.0 361.3 321.5 115 89 Total Cash Receipts 12,848.9 13,161.7 13,124.6 102 100 Net Operating Expenses 10,285.7 10,266.6 10,555.8 100 103 Net Cash Income 2,563.2 2,895.2 2,568.7 113 89 Income-in-kind 12.9 11.5 11.4 89 99 Depreciation 1,472.1 1,485.1 1,517.9 101 102 Realized Net Income 1,104.1 1,421.6 1,062.3 129 75 Total Net Income 1,291.3 1,268.1 1,510.1 98 119
QUEBEC Crop Receipts 2,703.3 3,230.2 3,141.3 119 97 Livestock Receipts 5,286.6 5,164.4 5,349.8 98 104 Total Payments 201.4 393.1 313.6 195 80 Total Cash Receipts 8,191.3 8,787.6 8,804.8 107 100 Net Operating Expenses 6,511.1 6,619.8 6,675.7 102 101 Net Cash Income 1,680.3 2,167.9 2,129.1 129 98 Income-in-kind 14.0 13.1 12.8 93 98 Depreciation 886.5 891.3 906.4 101 102 Realized Net Income 807.8 1,289.6 1,235.6 160 96 Total Net Income 1,019.4 1,258.4 1,331.2 123 106 ATLANTIC PROVINCES Crop Receipts 803.3 837.6 813.9 104 97 Livestock Receipts 933.2 907.6 899.9 97 99 Total Payments 39.1 73.3 70.6 187 96 Total Cash Receipts 1,775.6 1,818.4 1,784.4 102 98 Net Operating Expenses 1,456.9 1,481.5 1,508.5 102 102 Net Cash Income 318.7 337.0 275.9 106 82 Income-in-kind 2.8 2.7 2.7 96 103 Depreciation 185.2 186.4 189.9 101 102 Realized Net Income 136.2 153.2 88.8 112 58 Total Net Income 145.2 125.7 113.8 87 91 CANADA Crop Receipts 32,008.5 34,124.5 34,116.7 107 100 Livestock Receipts 25,679.5 23,959.6 25,048.5 93 105 Total Payments 2,134.8 2,442.1 2,435.9 114 100 Total Cash Receipts 59,822.8 60,526.3 61,601.1 101 102 Net Operating Expenses 44,836.5 45,067.2 46,168.6 101 102 Net Cash Income 14,986.3 15,459.0 15,432.5 103 100 Income-in-kind 61.6 55.2 56.1 90 102 Depreciation 6,948.3 7,032.9 7,222.8 101 103 Realized Net Income 8,099.6 8,481.3 8,265.8 105 97 Total Net Income 8,019.5 9,800.6 9,806.7 122 100 Source: Statistics Canada, CANSIM 002-0001 and 002-0009 Manitoba Agriculture, Foresight and Analysis, 2018-05-28 Manitoba Agriculture, Foresight and Analysis Email: IndustryIntelligence@gov.mb.ca Phone: (204) 945-3503 May 28 th, 2018 Foresight and Analysis, Manitoba Agriculture 809-401 York Avenue, Winnipeg MB R3C 0P8 1-204-945-3503, IndustryIntelligence@gov.mb.ca Other publications are available on the Agriculture Markets and Statistics page of Manitoba Agriculture. Page 5 of 5