Farm Product Price Index, June 2025

The Farm Product Price Index rose 3.7% in June 2025 compared with the same month one year earlier, as gains in the total livestock and animal products index outweighed the loss in the total crops index. This marked its eighth consecutive monthly increase.

Chart 1: 12-month change in the Farm Product Price Index

Higher prices for cattle, calves and hogs contribute to increase in the total livestock index

The total livestock and animal products index was up 11.3% in June compared with the same month a year earlier. The increase was primarily due to the increases in the cattle and calves index and the hogs index.

The cattle and calves index rose 20.0% in June 2025 compared with June 2024. The strong global demand for beef and veal contributed to the price gains for cattle and calves. Year over year, the exports of beef and veal increased by 12.7% in terms of quantity and by 22.6% in value in June 2025.

The hogs index increased 11.5% in June 2025 compared with the same month a year earlier. The lower inventory of hogs and strong demand for pork supported the price for hogs.

Gains in indexes of poultry (+1.8%), eggs (+0.2%) and dairy (+0.2%) also contributed to the increase of total livestock and animal products index.

Lower prices for major grains and specialty crops drive the decline in crops index

The total crops index dropped 2.7% in June compared with the same month a year earlier, marking the third consecutive year-over-year decline for the month of June. The decrease in the crops index was driven by lower prices for most major grains and specialty crops.

The grains index (-5.3%) recorded a third consecutive year-over-year decrease in June as prices for most grains were weaker compared with June 2024, with rye (-30.1%) and durum (-11.2%) leading the price declines.

On a year-over-year basis, the specialty crops index fell 14.2% in June 2025, mainly as a result of lower prices for chickpeas (-31.1%) and dry peas (-17.4%). Tariffs imposed by China on Canadian peas in the first quarter continued to put downward pressure on the price of dry peas.

In June, the oilseeds index rose 1.1% compared with the same month one year earlier, marking the first month of year-over-year increase since January 2023. Stronger prices for flaxseed (+25.1%) and canola (+3.4%) supported the oilseeds index increase in June 2025, while lower soybean (-12.7%) prices softened the upward movement.

In June, the fresh potatoes index fell 1.2% compared with the same month one year earlier, breaking the eight-year trend of year-over-year increases for the month of June. Improved supply and reduced export demand in the second quarter of 2025 put downward pressure on potato prices.

Gains in the fresh vegetables (+3.3%) and fresh fruits (+0.6%) indexes moderated the decline in the total crops index.

Table 1: Farm Product Price Index