The AgriPost
July 25, 2025
Agricultural News for Today’s Farmer. Independently Owned and Operated.
Manitoba Farm Income Declines in 2024, Despite Record Livestock Receipts
Looking ahead, the remainder of the growing season will be crucial. Producers are hoping for better crop yields and improved market conditions to help turn things around. Photo by Harry Siemens
By Harry Siemens Manitoba’s agricultural industry faced mixed results in 2024. Farm cash receipts dropped by 4.2%, totalling $9.8 billion, down from $10.2 billion in 2023. While livestock receipts reached new records, crop receipts experienced a significant decline, resulting in a decrease in overall farm income. Farmers in Manitoba faced numerous challenges, including declining crop prices, throughout 2024. Crop receipts totalled $5.94 billion, a 10% decrease from the previous year. Drops in the prices of major crops largely drove this decline. Canola sales fell by 12.4%, generating $2.0 billion, while wheat sales dropped 12.1%, bringing in $1.71 billion. Soybeans experienced the sharpest decline, dropping 37.1% to $525 million, while grain corn receipts decreased 9%, totalling $303 million. Oats also saw a 7.6% decline to $227 million. However, potatoes provided some relief for farmers, with receipts increasing by 21.6% to reach $508 million in 2024. In contrast, the livestock sector saw positive growth. Livestock
receipts rose by 5.4%, totalling $3.45 billion in 2024, up from $3.27 billion in 2023. The hog sector was a major contributor, with receipts rising 8.2% to a record $1.58 billion. Cattle and calf receipts also performed well, increasing 4.3% to a record $982 million. Dairy farmers saw a 5.6% increase in milk receipts, totalling $377 million, and egg receipts grew 2.6% to $177 million. Despite these gains, some categories saw declines. Chicken receipts fell 3.3% to $168 million, turkey receipts dropped 0.3% to $28 million, and honey receipts took a significant hit, falling 19.6% to $42 million. Program payments from the government also increased in 2024, rising by 14.5% to $409 million, up from $358 million the previous year. These payments helped cushion some of the financial difficulties caused by the downturn in crop prices. Operating expenses in 2024 decreased by 0.6% to $7.68 billion. Fertilizer and fuel costs dropped by 7.5% and 3.5%, respectively, offering some relief to producers. However, interest expenses rose sharply by
23.3%, and purchases of livestock and poultry increased by 3.7%. Other notable changes included an 11.4% decrease in commercial feed costs, a 13.1% decline in crop and hail insurance premiums, and a 5.8% increase in cash wages, as well as an increase in room and board. Net cash income, calculated as farm cash receipts minus operating expenses decreased by 15.4%, falling to $2.12 billion in 2024. This decline was primarily due to lower crop receipts, driven by reduced crop prices. Realized net income, which factors in depreciation, also saw a significant decline, falling by $365 million, or 23.0%, to $1.23 billion compared to 2023. When considering inventory changes, total net income for Manitoba farmers plummeted by 50%, falling from $1.87 billion in 2023 to just $917 million in 2024. This decline primarily resulted from lower crop receipts and a decrease in the value of crop inventories, due to a decline in crop prices at the end of the year. This marks the lowest level
of farm income in Manitoba since 2020. Despite the record performance in livestock receipts, the overall decline in farm income paints a challenging picture for Manitoba farmers. The drop in crop prices, particularly for soybeans and wheat, coupled with rising interest rates and operational costs, has put many producers under financial pressure. Government support through program payments has been essential in offsetting some of the challenges; however, it may not be sufficient to fully compensate for the reduced income from crops and rising expenses. As the year progresses, farmers will continue to navigate these economic pressures while adjusting to an ever-changing agricultural landscape. Looking ahead, the remainder of the growing season will be crucial. Producers are hoping for better crop yields and improved market conditions to help turn things around. The agricultural community will need to stay resilient and adaptable in the face of these ongoing challenges.
Canadian Pork Council Adds Voice to Canadian Federation of Agriculture By Dan Guetre The Canadian Federation of Agriculture (CFA) has officially welcomed the Canadian Pork Council (CPC) as its newest member organization, enhancing its mandate to represent farmers across Canada with a unified national voice. The CPC, which represents over 7,000 pork farms in nine provinces, joins the CFA’s roster of members that together speak for more than 190,000 Canadian farmers and farm families. The addition is seen as a strategic move to bolster collaboration on key issues affecting the sector, from trade and labour to sustainability and emergency preparedness. “We are so pleased to welcome the Canadian Pork Council as a member of the CFA,” said CFA President Keith Currie. “With CPC at the table, our unified national voice grows even stronger, particularly when engaging with the federal government on complex issues like sustainability, labour, animal health and emergency preparedness, trade, and competitiveness.” The pork sector is a significant contributor to Canada’s agricultural economy, supporting over 100,000 jobs nationwide. The industry exports approximately 70 per cent of its production, contributing more than $5 billion annually to the national economy. René Roy, Chair of the Canadian Pork Council, emphasized the importance of joining forces with other commodity groups. “As a national organization representing pork producers from nine provinces, it’s important for us to be part of a collective voice that speaks for Canadian agriculture as a whole,” he said. “We believe in the value of unity across sectors and Continued on Page 3....