‘How can we grow back the herd in Canada?’
Amid high beef prices and trade uncertainty, a Farm Credit Canada executive touched down in Winnipeg with a message: it’s time for cattle producers to grow. “What they face right […]
Farm Credit Canada executive Jean-Philippe Gervais addressed cattle producers at the Canadian Beef Industry Conference in Winnipeg, urging them to grow the herd. Beef prices have surged due to trade uncertainty, with beef striploin cuts selling for $40.15/kg in June, up from $26.80/kg five years ago. National beef prices rose 15% year-over-year in April.
Gervais cited a shrinking herd in both the U.S. and Canada as a key challenge. He noted the Canadian herd grew 2.5% in January for the first time in eight years, signaling early signs of herd growth.
Farm Credit Canada plans to invest $1 billion in food processing financing through Ottawa's national food security strategy, which could benefit the beef industry. Cattle farming contributes $41.1 billion directly and indirectly to Canada's economy. Cattle industry growth depends on technological advancements and digitizing systems, Gervais added.
Young farmers face decisions impacted by trade uncertainty, but profitability incentives remain strong. Manitoba, home to around 6,000 beef farmers, has seen weather-related declines in farmers. Grocery store beef prices are influenced by U.S. herds and rising demand. Per capita Canadian beef consumption increased 3.5% last year.
Written by urgent.news from Winnipeg Free Press's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
