Prices for most Canadian crop commodities fall in April compared to March, as higher production in the 2022-2023 crop year putting downward pressure on prices, Statistics Canada says

Sample article from our Agriculture Industry

OTTAWA , June 9, 2023 (press release) –

The prices for most crop commodities declined in April compared with March 2023, as higher production in the 2022/2023 crop year put downward pressure on prices.

The April prices for non-durum wheat declined from March 2023 across all provinces, except the Maritime provinces, with the decreases led by Quebec (-10.2%). Year over year, the declines in non-durum wheat prices were larger, with Quebec (-25.8%) also leading the decreases and breaking its four-year trend of year-over-year price increases.

In April, prices for durum wheat posted a third consecutive month-over-month decline in Saskatchewan (-1.5%) and Alberta (-1.3%), the two main durum-wheat-producing provinces. Alberta (-30.2%) and Saskatchewan (-26.8%) also reported double-digit decreases on a year-over-year basis.

Oats prices continued to decline across the Prairie provinces in April; Manitoba recorded its 10th consecutive month-over-month price decrease, and Saskatchewan recorded its 11th. Most provinces, particularly those in the west, reported double-digit declines in oats prices in April compared with April 2022; Manitoba (-52.8%) and Saskatchewan (-51.3%) led the declines, but were followed closely by Quebec (-48.9%).

In April 2023, canola prices decreased across all provinces compared with the previous month. The declines were led by Manitoba (-3.8%), which marked its fourth consecutive monthly price decrease. A larger domestic and global supply of canola continued to push prices down from the highs experienced in April 2022. Quebec (-27.6%) had the largest decline on a year-over-year basis, followed by Manitoba (-25.4%).

Dry peas prices decreased across the Prairie provinces in April compared with the previous month and April 2022. Manitoba reported the largest price decrease on a month-over-month basis (-5.5%) and a year-over-year basis (-30.2%).

Meanwhile, in April 2023, slaughter cattle prices increased across all provinces compared with the previous month, led by Alberta (+8.5%). All provinces reported a trend of increasing prices. Each of the Atlantic provinces reported at least five months of consecutive price increases, and the remaining provinces reported at least three consecutive months of price increases, as a smaller cattle herd supported prices.

Feeder cattle prices in April 2023 increased across all provinces, except Ontario (-1.4%), with the increases ranging from 1.5% in Nova Scotia to 5.2% in Manitoba. This marked a four-month trend of increased prices for Saskatchewan and Alberta, and a five-month trend of increased prices for Manitoba and British Columbia. Feeder cattle prices were supported by the smaller cattle herd and expectations of higher prices for slaughter cattle in the future.

In April, slaughter hog prices declined from March 2023, led by Prince Edward Island (-10.6%) and Quebec (-10.3%). A large hog processor in Quebec announced plans to close one of its hog processing plants by December 2023. Reduced global demand and uncertainty in Quebec's hog processing capacity put downward pressure on slaughter hog prices in April.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

More from our Agriculture Industry Coverage
See our dashboard in action - schedule an demo
Chelsey Quick
Chelsey Quick
- VP Client Success -

We offer built-to-order agriculture industry coverage for our clients. Contact us for a free consultation.

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.