Already the highest on record, the average prices received by Alberta ranchers for their cattle increased again in May.

The price of both cattle for slaughter and cattle for feeding rose 3% in May.

Compared to May 2023, the year-over-year (y/y) price was 12% higher for cattle for slaughter and 16% higher for cattle for feeding.

A key factor in the upward trajectory of cattle prices is the downsizing of the North American herd in the face of drought and escalating operating costs.

The average price of wheat posted a monthly gain for the first time since July 2023, rising by 4% over its April level. The y/y price, however, was down by 17%.

It was a broadly similar story for barley with the price edging up in May by 2%, but posting a 30% y/y decline.

After rising 8% in April, the price of canola ticked down by 1% in May to land at 17% below where it was 12 months earlier.

Overall, the prices received for Alberta’s three largest crops were sitting either at (in the case of wheat) or below (in the case of barley and canola) their five-year averages.

Cattle prices, on the other hand, were much higher at 53% above the five-year average for cattle for slaughter and 70% higher for feeder stock.

Answer to the previous trivia question: The Trans-Canada Highway is 7,821 km long.

Today’s trivia question: When did the recipe for beef bourguignon first appear?