Mixed results for grains, livestock prices in Canada in June 2024

Aug 14, 2024
By Jean-Paul McDonald
Assistant Editor, North American Content, Farms.com

June 2024 Farm Product Prices Show Varied Trends Depending where you are in Canada

In June 2024, Canadian farmers experienced fluctuating prices for a range of farm products, including grains, oilseeds, specialty crops, and livestock says a Statistics Canada Report. These changes reflect the complex dynamics of domestic and international agricultural markets.

Durum wheat prices in Saskatchewan and Alberta continued to drop for the ninth consecutive month, declining by 4.0% and 2.4%, respectively. This ongoing decrease, influenced by competitive export markets, also marked a year-over-year price fall of at least 5.9% in these provinces.

Canola prices varied across the prairies. Manitoba and Saskatchewan witnessed declines of 1.6% and 1.2% due to reduced domestic crushing activities. In contrast, Alberta saw a slight increase of 0.6%. Overall, year-over-year prices were down by over 12.5%, stabilizing from the record highs of June 2022.

The Prairie provinces also saw reductions in dry peas prices with Alberta recording the sharpest drop of 17.0%. This decrease brought an end to nine months of consecutive price increases in Saskatchewan.

In the grains sector, oat prices were inconsistent. Quebec saw a 6.0% increase, leading the gains, while Alberta faced the largest decline of 3.0%. However, year over year, most provinces, including Saskatchewan and Alberta, reported significant increases in oat prices.

The livestock sector showed positive trends in slaughter cattle prices with rises in all provinces except Ontario, which saw a 4.0% decrease. Quebec led the increases with a rise of 6.6%. This growth is attributed to a smaller cattle herd and sustained demand, with the Atlantic provinces marking their sixth consecutive monthly gain.

Feeder cattle prices were more mixed. Gains were noted in Quebec, Manitoba, British Columbia, and Saskatchewan, while declines occurred in the Atlantic provinces, Ontario, and Alberta.

Slaughter hog prices remained stable month-over-month but increased year-over-year in every province. Quebec and Prince Edward Island saw the most significant rises, supported by a shrinking hog herd and robust demand for pork products.

Video: Why Seed Analysts are Thriving Under Seeds Canada

Last month in Edmonton, Alta., industry leaders and stakeholders gathered to discuss the evolving landscape of the seed industry at Seeds Canada’s annual conference. Among them was Sarah Foster, president of 2020 Seed Labs and the new vice-president of Seeds Canada.

Foster, who has been on the board of Seeds Canada for over a year, has witnessed firsthand the challenges and opportunities that come with the formation of the organization. Seeds Canada was established just over three years ago through the merger of multiple seed industry groups, including the Commercial Seed Analysts Association of Canada (CSAAC). Since then, the organization has been working to define its priorities and solidify its role in the industry.

“The challenge has been allowing the dust to settle after the merger,” Foster explained. “We’ve been focused on identifying what our priorities should be and ensuring that our members, especially the seed analysts, are getting what they need to continue their professional work.”

One of the recent highlights was a pre-conference event where the three major seed labs in Alberta — 20/20 Seed Labs, SGS Canada and Seed Check — opened their doors to members. The event saw a record number of seed analysts and business professionals in attendance. Foster emphasized the importance of this transparency, stating, “It’s crucial for people to see what goes on behind the scenes. We’re an open book now, and that openness helps build trust and understanding within the industry.”

The event also featured an environmental scan and a series of discussions that fostered strong communication among attendees. According to Foster, the dialogue was both encouraging and inspiring.

“A lot of people were really inspired by the fact that Seeds Canada is moving ahead with its agenda. The seed analysts, who have always worked diligently in the background, are now being recognized more prominently,” she said.

Before the merger, seed analysts were represented by CSAAC. Now, as part of Seeds Canada, they are finding their place within the larger organization. Foster believes that the integration has been successful, noting, “I think we’re thriving. You only need to look south of the border, where similar consolidations are happening.”

As Seeds Canada continues to evolve, Foster remains optimistic about the future. “I want to be totally transparent with anyone who is a seed analyst — I’ve got your back. We’re moving in a positive direction, and we’ll do everything we can to meet the needs of our members,” she said.