Farm product prices, May 2024

Released: 2024-07-10

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

In May, prices for wheat (excluding durum) rose in Saskatchewan (+4.3%) and Alberta (+4.1%) for the first time after nine consecutive months of decreases. Manitoba (+4.4%) marked its second consecutive month of increase. The higher price of wheat (excluding durum) in the Prairies was mainly due to concerns over the wheat crop in Russia, which was damaged as a result of frost and dry weather. On a year-over-year basis, however, wheat (excluding durum) prices fell by at least 17.2% in each of the Prairie provinces in May.

Prices for lentils increased month over month in May after three consecutive months of decreases in both major producing provinces: Alberta (+3.2%) and Saskatchewan (+0.8%). Strong demand and tight global supply put upward pressure on lentil prices.

Prices for dry peas rose in the Prairie provinces in May compared with April. Alberta (+11.4%) posted the largest gain, followed by Manitoba (+3.4%) and Saskatchewan (+2.8%). Strong global demand exerted upward pressure on prices.

Prices for barley varied across the provinces in May compared with April. Manitoba (+10.8%) led the increases, after five consecutive months of decline, while Quebec (-14.7%) recorded the largest decrease. On a year-over-year basis, barley prices fell in all the western provinces by at least 23.6% in May.

Slaughter cattle prices increased across all provinces in May compared with April, with gains ranging from 1.6% in Ontario to 5.2% in British Columbia. This marked at least four consecutive months of rising prices for all provinces except British Columbia, which declined in April.

Meanwhile, feeder cattle monthly prices rose in every province in May except Quebec (-3.3%). The monthly price gains ranged from 0.5% in Manitoba to 5.1% in Ontario. Year over year, feeder cattle prices were at least 16.0% higher in all provinces in May, supported by the smaller cattle herd.

Monthly slaughter hog prices increased across Canada in May, led by Nova Scotia (+4.7%) and British Columbia (+4.6%). Compared with May 2023, slaughter hog prices were at least 15.1% higher in all provinces in May 2024. This marked at least four consecutive months of rising prices across all provinces.

Contact information

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