Farm product prices, January 2023

Released: 2023-03-13

Monthly provincial prices received by farmers in January for grains, oilseeds, specialty crops, cattle, hogs, poultry, eggs, and dairy products are now available.

In January 2023, slaughter cattle prices increased in most provinces compared with December 2022, ranging from 1.8% in Saskatchewan to 3.9% in Alberta. In addition, both Alberta and Saskatchewan marked the end of a three-month downward trend. On the other hand, British Columbia (-3.7%) and Quebec (-0.4%) were the only provinces posting month-over-month declines, recording their fourth and fifth consecutive drop respectively.

In January 2023, feeder cattle monthly prices rose in all provinces except for Ontario, down 0.9%. The largest price gains occurred in the Atlantic provinces where prices marked the end of a three-month downward trend.

Meanwhile, slaughter hog prices decreased across all provinces, except for British Columbia, where the price remained flat. Manitoba (-10.6%) led the month-over-month price declines. Furthermore, Quebec posted its third consecutive price drop month-over-month, while the Maritime provinces, the Prairie provinces and Ontario marked their fifth consecutive price decline.

In January 2023, wheat (excluding durum) monthly prices varied across provinces, where gains were recorded in the Maritimes and Ontario, while decreases were posted in all remaining provinces. New Brunswick (+4.8%) reported the largest increase, while Quebec (-3.3%) led the declines. All provinces, however, continued their year-over-year price gains for non-durum wheat as high input costs, strong demand and continued uncertainty in the global wheat market supported higher prices.

Durum wheat prices went up in Alberta (+1.5%) and Saskatchewan (+1.3%) from December 2022 to January 2023. Year over year, however, both provinces recorded declines, down 32.2% in Saskatchewan and 31.1% in Alberta, as increased supply put downward pressure on prices.

In January 2023, oat monthly prices continued their downward trend across the Western provinces. Manitoba (-6.0%) led the decreases marking its seventh consecutive monthly decline, while Alberta (-3.9%) and Saskatchewan (-1.6%) marked their third and eighth consecutive monthly drops respectively. On a year-over-year basis, oat prices recorded declines across all provinces, except for Prince Edward Island.

Soybean monthly prices experienced gains in most provinces in January 2023 compared with December 2022. Year over year soybean prices increased in all provinces by at least 19.1%. Canadian soybean prices were primarily supported by strong global demand and adverse crop growing conditions in other soybean-producing countries.

Monthly prices for both, dry peas, and lentils, moderately increased across the Prairie provinces in January 2023. However, on a year-over-year basis, these two specialty crops experienced large price decreases, with Saskatchewan leading the declines for both commodities. Dry peas and lentil prices fell from their elevated levels recorded in the first six months of 2022 when supply was low due to the drought in the 2021/2022 crop year.

Contact information

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