indicatorThe Twenty-Four

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?

Crop prices in Alberta have fallen from the peaks reached in 2022

Crop prices in Alberta have fallen from the peaks reached in 2022

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