Major crop prices down slightly in February
But still high compared to five year averages
By Rob Roach, ATB Economics 14 April 2023 1 min read
According to the latest data from Statistics Canada, the average prices received by farmers* for Alberta’s three largest crops edged down in February.
The price of a metric tonne of wheat (excluding durum) fell by $2.83 to $435.88 (-0.6%).
The price received for canola was down by $22.79 to $848.4 per tonne (-2.6%) while barley prices pulled back by $8.80 to $395.69 per tonne (-2.2%).
Average cattle prices went in the opposite direction with cattle for slaughter selling for $176.40 per hundredweight or $7.81 more (+4.6%) than in January.
Cattle for feeding prices went from $180.83 per hundredweight to $203.86 for a jump of $23.03 (+12.7%).
Although down from the peaks reached last year, major crop prices in Alberta remained well above their five-year averages.
Wheat prices in February were 42.0% above the five-year average, barley prices were 46.9% higher and canola prices were 37.8% higher.
It’s the same story for cattle with cattle for slaughter prices 23.4% higher in February than their five-year average and cattle for feeding prices up by 34.9%.
*Price data are extracted from administrative files and derived from Statistics Canada surveys.
Answer to the previous trivia question: The managed trade agreement known as the Canada-US Auto Pact was signed in 1965 and lasted until 2001.
Today’s trivia question: Which country is home to the largest farm in the world?