E-Newsletter dsfsfa An update from MBP December 9, 2022
mbbeef.ca
Farm Product Price Index, September 2022 Livestock prices rise in the face of increasing demand and shrinking herd size The following information is from the December 5, 2022 edition of Statistic Canada’s publication The Daily. In September 2022, the livestock and animal products index rose 12.1% from the same month the previous year, as all livestock commodity indexes posted gains on a yearover-year basis. The primary contributors to the increase in price in the third quarter of 2022 were the higher input prices (particularly the costs of feed and fertilizer), tight feed availability and a decreasing herd size, mainly as a result of poor profitability and drought conditions in the Western provinces and the United States.
The cattle and calves index rose for an eighth consecutive month in September 2022, up 19.7% compared with September 2021. A contributing factor to the gain was the strong global demand for beef during the third quarter of 2022. Furthermore, the value of Canadian cattle exports for immediate slaughter increased 19.2% in the third quarter of 2022 compared with the third quarter of 2021. In contrast, the quantity of cattle exported from Canada decreased by 5.2% during the same period, reflecting the higher demand for Canadian cattle and calves. For more details see: https://www150.statcan.gc.ca/n1/dailyquotidien/221205/dq221205e-eng.htm?CMP=mstatcan
Registration now available! Click here.