Statistics Canada released today its farm product prices for April, and the stats confirm what the industry has been experiencing for the past little while. According to statistics Canada, the prices for April Alberta feeder cattle was $159.31 per hundredweight, which is up 2.3% from March, and up more than 40% since the same time last year when the price was $112.37.
Soybean prices are also on the rise. In Ontario, statistics Canada reported that the price for soybean in April was $558.41 per tonne, up 1.7% from March, and increase of more than 5.0% since April 2013 when the price was $531.32.
There has also been a dramatic increase in pork prices, which is largely attributed to the widespread outbreak of PED virus (Porcine Epidemic Diarrhea) in the United States and Canada, which has killed around nine million pigs in the last year and decreased pork supplies against a rising demand.Click here to see more...