FARM INPUT PRICE INDEX, FOURTH QUARTER

on April 16 | in Ag News | by | with No Comments

From Statistics Canada

The Farm Input Price Index decreased 0.7% in the fourth quarter, following a 0.8% increase in the third quarter.

Animal production (-1.5%) contributed the most to the quarterly movement of the index. The decline of the index was offset by an increase in buildings (+0.7%) and general business costs (+0.4%).

The index decreased in five provinces during the fourth quarter. Ontario (-1.2%) and Alberta (-1.0%) contributed the most to the national decline. Decreasing prepared commercial feed costs in Ontario (-6.1%) led the quarterly decline of the index in the East. Meanwhile, decreasing cattle prices in Alberta (-2.2%) led the quarterly decline of the index in the West.

Nationally, farm input prices increased 3.4% between the fourth quarter of 2011 and the fourth quarter of 2012.

Animal production (+7.0%) costs contributed the most to the annual price movement of the index. Animal production has been the main contributor to the annual growth of the index since the third quarter of 2010.

The index increased in all provinces between the fourth quarter of 2011 and the fourth quarter of 2012. The largest contributions to the annual increase were observed in Ontario (+4.0%) and Quebec (+6.0%). Annual price increases were primarily the result of prepared commercial feed costs rising in both Quebec (+22.4%) and in Ontario (+13.7%).

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