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Farm product prices in September

Alberta crop and livestock prices strong but down from recent peaks

By Rob Roach, ATB Economics 9 November 2023 1 min read

The general softening of major crop and livestock prices continued in September.

The average prices received by Alberta farmers for barley, wheat (excluding durum), and canola were between 22% and 30% lower in September than the all-time highs reached in June 2022.

Although crop prices have come down from their peaks, they remain 11% to 16% above their five year averages.

Cattle prices, which rose to their highest levels on record earlier this year, have lost ground in recent months.

Cattle for slaughter prices in September were 5% below their peak while cattle for feeding prices were 18% lower than their zenith.

Despite the erosion, cattle for slaughter prices and cattle for feeding prices remained 44% and 31% above their respective five-year averages.

If you are a farmer or rancher trying to make ends meet in the face of high operating costs, the price declines are not welcome news. On the bright side, prices are still relatively high.

If you are a consumer staring with wide eyes at your grocery bill, the downward trend is a positive development. With that said, retail food prices come at the end of a long and complex global food chain and it takes time for lower crop and cattle prices to work their way through the system.

Answer to the previous trivia question: The Canadian Legion (later to become the Royal Canadian Legion) was founded in 1925.

Today’s trivia question: When did the Great War Veterans Association of Canada (predecessor to the Royal Canadian Legion) adopt the poppy as a symbol of remembrance in aid of fundraising?

Average wheat, barley, canola and cattle prices in Alberta all fell in September 2023

Average wheat, barley, canola and cattle prices in Alberta all fell in September 2023

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