Crop gains outstrip livestock losses: StatsCan

Tuesday, January 8, 2008

by BETTER FARMING STAFF

Crops were the big winners in terms of prices in October, Statistics Canada reports.
In its release yesterday of farm product price index (FPPI) information, StatsCan notes that strong gains in crop prices outstripped livestock prices for the same month.

Crop prices rose 16.5 per cent compared to the same month a year earlier, with only fruits and vegetables showing decreases. Grains, oilseeds, specialty crops and potato prices were all up.

In contrast, livestock and animal products dropped 4.6 per cent below Oct. 2006 levels. It was the fifth consecutive year-to-year decline for cattle, calves and hog prices, the report said.

The decrease was moderated by an upward trend in prices for supply managed commodities.

However, in month to month comparisons, commodity prices had fallen 3.5 per cent in Oct. from their Sept. levels. Livestock and animal products were similarly down with the exception of dairy, which rose 1.4 per cent, and poultry, which remained at the same level as the month before.

The FPPI consequently dropped to 103.3 in Oct. from 107.1 in Sept. (1997=100). BF