Scotiabank's agricultural commodity price index for May was down about half a per cent from April.
It was down almost 17 per cent from May of 2014.
The bank says cattle prices moved to a new record high and hog prices rebounded slightly in May.
Wheat and canola prices also firmed up.
But Scotiabank says it wasn't enough to offset lower barley prices and a significant fall off in Atlantic Coast lobster prices.
The bank's overall index was up 4 point 7 per cent in May from April but over 26 per cent lower than it was a year ago.
