Canada’s Farm Product Price Index Drops AgainAugust 28, 2014 8:41am
Statistics Canada’s Farm Product Price Index was down almost 5 per cent in June from a year ago.
The 4 point 8 per cent drop is the 10th consecutive year-over-year decrease in that index.
The crops index was down 19 point 9 per cent, the livestock index up 16 point 8 per cent.
The year-over-year decline in crop prices began in August of 2013.
Statscan says grain and oilseed prices started coming under pressure last year when world production recovered and Canada harvested record breaking crops for many of the major grains and oilseeds.
The agency says the livestock and animal products index has been rising, on a year-over-year basis, since April of 2013.
However, that increase has been slowing since May.
The cattle and calves index in June was up 30 point 7 per cent over the year – the hogs index up 26 point 2 per cent.
The overall month-over-month change for the Farm Product Price Index was a drop of 1 per cent.