Crop and livestock prices riding high
The price of durum wheat reached a record high of $593.71 per metric tonne in September
By Rob Roach, ATB Economics 9 November 2021 1 min read
Production shortfalls due to drought in Alberta and other places combined with robust global demand have been pushing up crop and livestock prices.
In Alberta, the price of durum wheat (which is used to make pasta) reached a record high of $593.71 per metric tonne in September—double what it was in September 2020.
As a result, pasta prices will also be going up.
The price of common wheat was also high at $334.85 per metric tonne or 41% above where it was 12 months earlier.
Although it has come down from a record high in July, the price of canola in Alberta was, like common wheat, also 41% higher than the year before.
The prices of barely, oats, lentils, flaxseed and dry peas were all relatively high in September.
Cattle prices have also been strong with year-over-year prices in the province higher every month since February 2021. With that said, prices have not reached the record highs set in 2015.
Hog prices were 49% higher than the year before while chicken prices were up by 19%.
While higher crop and livestock prices are helpful for farmers and ranchers, reduced yields and higher input costs are offsetting challenges.
Answer to the previous trivia question: Home Box Office launched on November 8, 1972.
Today’s trivia question: What country produces the most pasta?