Farm Product Price Index

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Prices farmers received for their commodities fell 11.8% in June from the same month a year earlier, as both the crops index and the livestock and animal products index fell.

The prices producers received for crops in June were 21.4% lower compared with the peaks reached in June 2008. Higher prices for potatoes and vegetables were unable to compensate for lower prices for grains, oilseeds, speciality crops and fruits.

Potato prices in June were 25.0% above those of June 2008 as North American production last fall was down.

The prices producers received for livestock and animal products in June fell 1.3% compared with June 2008, following 12 months of increases. Decreases were recorded for all commodities except poultry and dairy.

On a month-to-month basis, the total index (1997=100) decreased from 118.6 in May to 112.7 in June.

The total crops index fell 4.4% in June compared with the May index as all commodities except oilseeds and vegetables recorded declines. This was the third consecutive monthly increase for oilseeds, buoyed by demand for canola that was fuelled by record crush and exports for the 2008/2009 crop year.

In June, the overall livestock and animal products index stood at 105.0, down from the May level of 109.4. Decreases were recorded for all commodities except eggs, which were unchanged.

The hog index fell by 12.5%, while the cattle and calves index was down 4.2%. The livestock sector has been faced with the US Country of Origin Labeling legislation, the H1N1 flu virus and lower demand driven by the economic crisis.

Note: The growth rate of the total Farm Product Price Index (FPPI) is not a weighted average of the growth rates of its crop and livestock components. The growth rate of the total FPPI is derived from a weighted average of the component indices using a different set of weights in consecutive months. Given this, the growth rate of the composite FPPI can lie outside the growth rate of the components.

Available on CANSIM: tables 002-0021 and 002-0022.

Definitions, data sources and methods: survey number 5040.

The June 2009 issue of Farm Product Price Index, Vol. 9, no. 6 (21-007-X, free), is now available. From the Publications module of our website, under All subjects choose Agriculture.

For more information, or to order data, call Client Services (toll-free 1-800-465-1991). To enquire about the concepts, methods or data quality of this release, contact Nickeisha Patterson (613-951-3249; fax: 613-951-3868; nickeisha.patterson@statcan.gc.ca), Agriculture Division.