Prices Canadian farmers received for their commodities fell for a second straight month, falling 5% in June after a 0.5% decline in May, according to Statistics Canada data released Thursday.
Commodity prices seeing the biggest declines included fruit prices (-16.6%) and hogs (-12.5%). Other crops experiencing declines included cattle (-4.2%), potatoes (-4.1%), grains (-2.1%) and specialty crops (-2.1%).
Oilseed prices rose for a third consecutive month, buoyed by demand for canola fueled by record exports last year. Vegetable prices also rose, increasing 4.3% in June.
While potato prices fell last month, they are still 25% higher than potato prices a year ago and helped offset the year-over-year declines for most farm commodities. Grain prices, for example, have fallen 39% in the past year.
Other commodities with double-digit 12-month price declines included oil seeds (-19.5%), specialty crops (-15.3%) and fruit (-12.2%).