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Farm Product Price Index

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The Daily

Tuesday, June 26, 2007
April 2007 

The prices that farmers received for their commodities rose 10.3% in April from the same month a year earlier, as most crop, livestock and animal product prices increased.

Prices for crops were 11.6% higher in April than they were a year earlier, according the Farm Product Price Index (FPPI). This was the eighth consecutive monthly year-over-year increase and the sixth consecutive double-digit rise. After slumping to very low levels during the 2005-2006 crop year (August to July), crop prices have surged this year to their highest levels since the fall of 2004.

Prices for the overall livestock and animal product index rose 9.1% in April as gains were made in all commodities except for eggs, which slipped 0.4%. Increases ranged from 4.0% for dairy to 16.7% for hogs.

On a monthly basis, prices farmers received for their commodities rose 0.8% in April over March.

The FPPI (1997=100) stood at 104.9 in April, up from the revised March index of 104.1.

Prices for livestock and animal products rose 2.9% in April from the revised March index, as all livestock commodities recorded increases except dairy and eggs. Gains ranged from 0.3% for poultry to 6.7% for cattle and calves.

Cattle and calf prices increased 6.7% for a fourth consecutive month in April, after dropping to a recent low in December 2006, when they had been at their lowest level since the border re-opened to partial trade of live cattle and calves in July 2005. Strong demand and tighter North American supplies have supported prices.

Hog prices advanced 2.9% in April over March, rising for three out of the four months this year. Steady domestic and international demand continues to support prices, despite the rising Canadian dollar. A series of severe winter storms in March affected the supply of market ready hogs and cattle.

The prices that farmers received for crops slipped 2.8% from the revised March index as all crops except specialty crops and fruits recorded decreases. Specialty crop prices remained strong, supported by continued demand.

Grain and oilseed prices dropped slightly, the first monthly decrease since fall 2006 for oilseeds and summer 2006 for grains. As Canadian producers start planting this year's crop, markets begin to react to weather reports in all major producing areas and their effects on the upcoming growing season and production.

Available on CANSIM: tables 002-0021 and 002-0022.

Definitions, data sources and methods: survey number 5040.

The April 2007 issue of Farm Product Price Index, Vol. 7, no. 4 (21-007-XWE, free) is now available. From the Publications module of our website, under Free Internet publications, choose Agriculture.

For general information or to order data, call 1-800-465-1991. To enquire about the concepts, methods or data quality of this release, contact Gail-Ann Breese (204-983-3445; fax 204-983-7543;, Agriculture Division.

Tables. Table(s).