August 2024 Farm Product Prices Overview

Monthly provincial prices for farm products in August 2024 have been released. These include prices for grains, oilseeds, specialty crops, cattle, hogs, poultry, eggs, and dairy products.

Grains and Oilseeds:

• Durum wheat prices decreased for the 11th consecutive month, with a 10.6% drop in Saskatchewan and 7.0% in Alberta. Anticipated production increases contributed to this decline.
• Canola prices fell for the third consecutive month in Saskatchewan (-4.5%) and Manitoba (-1.3%), and for the second month in Alberta (-5.5%). Year-over-year, Saskatchewan saw a 22.3% drop due to increased domestic supply and global soybean stock rises.

Specialty Crops:

• Lentil prices decreased in August, with Alberta experiencing a 9.9% decline and Saskatchewan 5.5%.

Livestock:

• Slaughter cattle prices increased across most provinces, except Alberta (-2.0%). Year-over-year, prices rose in all provinces, with Quebec seeing a 33.7% increase.
• Feeder cattle prices varied, with increases in Quebec (+5.4%), Ontario (+3.4%), and Alberta (+2.2%).
• Slaughter hog prices rose in most provinces, with Quebec seeing a 5.1% increase, while Manitoba reported a 1.0% decline.

Barley:

• Barley prices varied, with New Brunswick seeing a 12.2% increase, while Prince Edward Island experienced a 31.5% decrease. Year-over-year, Saskatchewan reported a 31.0% drop.