August 9, 2024 (press release) –
Released: 2024-08-09
Monthly provincial prices received by farmers in June for grains, oilseeds, specialty crops, cattle, hogs, poultry, eggs and dairy products are now available.
In June, durum wheat prices posted their ninth consecutive month-over-month decrease in Saskatchewan (-4.0%) and Alberta (-2.4%). Both provinces also recorded a year-over-year decline, with prices falling at least 5.9%, as competitive export prices put downward pressure on prices of Canadian durum.
Compared with May, canola prices fell in Manitoba (-1.6%) and Saskatchewan (-1.2%), while Alberta (+0.6) recorded a slight increase in June. The declines in Manitoba and Saskatchewan were partially due to lower domestic crushing in June. Year over year, canola prices dropped across all the Prairie provinces in June, down by at least 12.5%. Prices returned to more regular levels after reaching a record high in June 2022.
In addition, the Prairie provinces recorded monthly declines in the prices of dry peas in June 2024, with Alberta (-17.0%) posting the largest drop. Prices fell 6.6% in Saskatchewan, putting an end to nine consecutive months of increase. Lower prices for this commodity were supported by the favourable growing conditions.
Oat prices varied across provinces in June, compared with May. Quebec (+6.0%) led the increases, while Alberta (-3.0%) recorded the largest decrease. Year over year, oat prices rose in most provinces, with Saskatchewan (+24.3%) reporting the largest growth in June, followed by Alberta (+17.7%).
In June, slaughter cattle monthly prices rose in all provinces except Ontario (-4.0%). The increases were led by Quebec (+6.6%), followed by Saskatchewan (+3.8%). The smaller cattle herd continued to support slaughter cattle prices, contributing to the monthly rise in the Atlantic provinces, which recorded their sixth consecutive monthly gain.
The monthly price of feeder cattle varied across the provinces in June. Quebec (+4.6%), Manitoba (+2.7%), British Columbia (+1.7%) and Saskatchewan (+0.3%) recorded gains, while the Atlantic provinces (-1.1%), Ontario (-3.7%) and Alberta (-8.3%) reported decreases. Feeder cattle prices, however, were at least 13.3% higher year over year across the provinces in June.
Most slaughter hog monthly prices were flat in June compared with a month earlier. On a year-over-year basis, however, June prices were up in every province, with Quebec (+15.2%) leading the gains, followed by Prince Edward Island (+14.9%). Hog prices have been supported by the shrinking hog herd and strong demand for pork products.
* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistribute or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.