OTTAWA
,
February 9, 2024
(press release)
–
Monthly provincial prices received by farmers in December 2023 for grains, oilseeds, specialty crops, cattle, hogs, poultry, eggs and dairy products are now available. Monthly prices for wheat (excluding durum) declined in December in the Prairie provinces. Alberta (-2.9%), Saskatchewan (-1.9%) and Manitoba (-1.4%) recorded their fifth consecutive month-over-month decrease. During the 2023/2024 crop year, ample global supply and competitive exports from Turkey contributed to the price decline. Canola prices continued to decrease in the western provinces in December compared with November, while Quebec (+7.2%) posted an increase. In addition, Alberta (-1.0%) and Manitoba (-0.5%) recorded their fourth consecutive month-over-month price decline. On a year-over-year basis, the price of canola declined in all provinces, mainly as a result of the rise in global soybean stocks, which were destined for vegetable oil and biodiesel markets. Alberta (-20.5%) posted the most notable year-over-year drop, followed by Saskatchewan (-18.0%) and Manitoba (-17.8%). The price of corn declined for a fifth consecutive month in Manitoba (-10.4%) and Ontario (-2.7%) in December compared with November. Quebec recorded a 1.8% increase month over month but had a 17.8% decrease year over year. Increased global corn supply in the 2023/2024 crop year exerted downward pressure on prices. In December, barley prices were on a downward trend across Canada. Month-over-month declines ranged from 0.3% in Prince Edward Island to 12.1% in Quebec, as more competitive prices for other feed grains, particularly corn, weakened barley prices. In December, feeder cattle prices varied across the provinces compared with November. The monthly price increases ranged from 0.7% in Ontario to 4.2% in Alberta, while decreases ranged from 3.2% in Manitoba and British Columbia to 7.4% in Saskatchewan. Slaughter cattle prices in December were down across all provinces compared with November, except Quebec, where prices were flat. Decreases ranged from 3.1% in British Columbia to 5.1% in Ontario. Month over month, hog prices were down in all provinces in December, the fourth consecutive month of decline for all provinces. Decreases ranged from 5.6% in Prince Edward Island to 12.3% in New Brunswick.
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