Grain crop prices bring farm incomes down nationwide

By Medicine Hat News on November 28, 2024.

Crop and cattle prices have gone in different directions in 2024, and lower prices for grains has dragged farm receipts income across the country down 3 per cent, according to new figures from Statistics Canada.

The difference in Alberta was 2 per cent, as lower crop revenue was partially offset by higher year-to-date cattle prices.

A note from ATB states production levels were relatively stable.

“(The) results point to a more financially challenging year for Alberta’s crop producers due to weaker commodity prices,” it reads.

“The lower revenue will have a negative impact on the bottom line of crop producers, but until we have data on the expense side of the equation (available next year), we won’t know the full impact.”

Livestock income rose 11 per cent year-to-date to September, driven by international demand and smaller herd size.

Feeders were up by almost one quarter. Over the same period, the prices realized on non-durum wheat, canola and barley in Alberta fell between 21 and 29 per cent compared to late 2023.

Overall livestock sales totalled $29 billion in the first nine months of 2024, up 6 per cent nationally, including hogs, dairy and poultry.