Latest news with #cattleindustry
CTV News
5 days ago
- Business
- CTV News
Soaring beef prices push summer staples out of reach for many Canadians, study shows
A new report from Dalhousie University's Agri-Food Analytics Lab says beef is quickly becoming a luxury item in Canada, with soaring prices changing the way many families approach summer barbecues. 'In Canada, beef is no longer just food—it's a financial decision." Sylvain Charlebois, the study's lead author, said. 'What was once a staple of the summer grill is now a luxury item, priced out of reach for many families.' The study points to steep price hikes since January. The cost of striploin is up 34.2 per cent, top sirloin has increased 33.7 per cent, and rib cuts have jumped nearly 12 per cent. Even pork ribs, chicken breasts and plant-based burgers have seen price increases of roughly six per cent. A shrinking cattle inventory is a key factor. Canada's beef cow population has dropped to its lowest level since 1989, with many producers exiting the industry amid volatility, according to the report. Other pressures include transportation costs, carbon pricing, labour expenses, and limited processing capacity. The report also raises concerns about a lack of regulatory scrutiny, noting that, unlike the U.S., Canadian authorities have not taken major action on possible price fixing in the beef sector. The result is Canadians are eating less beef, according to the study. Per capita consumption fell 7.1 per cent in 2023 and another 2.1 per cent this year. 'Consumers will continue to enjoy beef,' says Charlebois. 'But with moderation, and on occasions that justify the cost.'
Yahoo
23-05-2025
- Business
- Yahoo
Beef prices reach record highs as cattle industry struggles with costs
Fort Worth, Texas — The dinner shopping list for Darlowe Torkelson and his wife was short. At today's prices, it consisted of just one sirloin steak and one potato. Torkelson of Argyle, Texas, told CBS News his family doesn't yet know the upper limit of what they are willing to pay for certain groceries. "I haven't found it, I'd like to see it back down," Torkelson said. The average cost of one pound of ground beef reached a record-high of $5.80 in April, according to numbers from the Bureau of Labor Statistics. That is up nearly 50% from five years ago. "We are very, very conscious of how high the prices are in the meat case," said rancher Stephen Kirkland, owner of the Z Bar Cattle Company. Kirkland said he has been trying to absorb the price increases at the two butcher shops he owns near Fort Worth, Texas. Kirkland says that a year ago, he could buy cattle for about $1,500 per steer. Now, he says the price has risen to nearly $2,400. "$2,400 for one steer going into the feed yard, and then feed and everything else, transportation, everything else that gets involved in that," Kirkland said of the cost. Raising those steers also comes at a higher cost, with prices going up for feed, land and financing. Those cost increases have contributed to U.S. cattle herds falling to their lowest numbers in more than 70 years, according to USDA data. "We've had a lot of drought the past couple of years, and so it's been harder and harder to keep enough grass to feed the cows," said rancher Kim Radaker Bays, who raises Herefords and Texas Longhorns at Twin Canyons Ranch south of Fort Worth. She has to weigh the cost to keep the herd fed and healthy against the price they will command at market. She says that if a cow is non-pregnant, or "open" — meaning it's not carrying a calf and growing the herd — it's a better financial decision at today's prices for Bays to sell it. "It just costs too much to feed them if you don't get a calf every year," Bays explains. With supplies tightening, the U.S. Department of Agriculture forecasts that beef prices will rise throughout 2025. Kirkland says he won't speculate on when the price of beef will be too high for consumers. "But as cattle prices increase, we're left with no other choice," Kirkland said. "If we want to stay profitable, we want to stay in business at all, you've got to go up on your price." Trump confronts South African president during White House meeting, repeats genocide claims Trump takes questions during meeting with South African president Rubio, Jayapal have fiery exchange about Afrikaner refugee's antisemitic tweet, student visas
CBS News
23-05-2025
- Business
- CBS News
U.S. beef prices reach record highs as cattle industry struggles to keep costs down
Beef prices at all-time highs, up nearly 50% from 5 years ago Fort Worth, Texas — The dinner shopping list for Darlowe Torkelson and his wife was short. At today's prices, it consisted of just one sirloin steak and one potato. Torkelson of Argyle, Texas, told CBS News his family doesn't yet know the upper limit of what they are willing to pay for certain groceries. "I haven't found it, I'd like to see it back down," Torkelson said. The average cost of one pound of ground beef reached a record-high of $5.80 in April, according to numbers from the Bureau of Labor Statistics. That is up nearly 50% from five years ago. "We are very, very conscious of how high the prices are in the meat case," said rancher Stephen Kirkland, owner of the Z Bar Cattle Company. Kirkland said he has been trying to absorb the price increases at the two butcher shops he owns near Fort Worth, Texas. Kirkland says that a year ago, he could buy cattle for about $1,500 per steer. Now, he says the price has risen to nearly $2,400. "$2,400 for one steer going into the feed yard, and then feed and everything else, transportation, everything else that gets involved in that," Kirkland said of the cost. Raising those steers also comes at a higher cost, with prices going up for feed, land and financing. Those cost increases have contributed to U.S. cattle herds falling to their lowest numbers in more than 70 years, according to USDA data. "We've had a lot of drought the past couple of years, and so it's been harder and harder to keep enough grass to feed the cows," said rancher Kim Radaker Bays, who raises Herefords and Texas Longhorns at Twin Canyons Ranch south of Fort Worth. She has to weigh the cost to keep the herd fed and healthy against the price they will command at market. She says that if a cow is non-pregnant, or "open" — meaning it's not carrying a calf and growing the herd — it's a better financial decision at today's prices for Bays to sell it. "It just costs too much to feed them if you don't get a calf every year," Bays explains. With supplies tightening, the U.S. Department of Agriculture forecasts that beef prices will rise throughout 2025. Kirkland says he won't speculate on when the price of beef will be too high for consumers. "But as cattle prices increase, we're left with no other choice," Kirkland said. "If we want to stay profitable, we want to stay in business at all, you've got to go up on your price."
CNA
22-05-2025
- Business
- CNA
Chinese demand fuels surge in Australian beef exports amid global trade uncertainties
RUTHERFORD, New South Wales: Australian beef exports climbed to near-record levels last month, bolstered by increased demand from China amid global trade uncertainties. Last month, Australia exported more than 127,000 tonnes of beef. This is close to the highest-ever monthly total, which was 130,000 tonnes recorded for October 2024 beef exports. China is currently Australia's second largest beef export market after the United States. The bumper month comes as the US' beef exports to China have been disrupted, but observers told CNA that it is too early to attribute the recent uplift in exports to US President Donald Trump's tariffs. Some believe the surge in exports was due to record supply. 'In the short term anyway, it opens up a US$2.5 billion gap which Australians are primed to take advantage of. And the reality is we've already seen exports to China up 40 per cent just this year,' said Roger Montgomery, founder and chairman of Montgomery Investment Management. STRONG LIVESTOCK SALES 2025 is looking to be the biggest year on record for Australia's cattle industry, with China likely to source any shortfall in its prime beef supplies from the country. Meanwhile, the popularity of Australian beef is being felt in livestock markets across the nation, including in the small rural community of Rutherford. Local stock agent Tony Bowe, who has been selling livestock most of his life, recognises the importance of these sales. He said he believes the current volatility triggered by the Trump tariffs and the possible repercussions bode well for the Australian market. 'Those uncertainties in the world are definitely going to help our industry,' said Bowe. 'I think going forward in 12 months' time, we'll see a very big lift in the cattle market and the livestock industry in Australia.' Compared to industrial-scale saleyards across Australia, the Rutherford market is small but it plays a vital role in the livestock supply chain. Many of the cattle there are bought for the long-term because of their size. 'There's always a bargain to be had by buying an animal that nobody else wants for whatever reason,' said cattle farmer and buyer Stephen Low. 'But they're good quality cattle here and the prices are not as much as I would have found here last month.' MEETING RISING DEMAND Younger cattle are purchased for fattening to be sold and exported at a later date. Much of it will be to China and other Asian countries if the trade uncertainties continue. Cattle farmer and buyer Dave Payne said that the current trade volatility will help create more opportunities to export products to China, South Korea and Japan. Australian livestock is subject to high standards of biosecurity, contributing to sustained buyer confidence. But observers said there are many other factors at play. 'Prices could go up if volumes don't meet that demand,' said Montgomery. 'But we've got to remember it's a competitive market. The US could come back and Brazil's always there ensuring that we have to innovate.'
Yahoo
12-05-2025
- Health
- Yahoo
US shuts southern border to livestock imports to stop spread of deadly flies
The Trump administration is temporarily banning imports of cattle, horses and bison through ports along the southern border because of the rapid northern spread of New World Screwworm (NWS) in Mexico. U.S. Department of Agriculture (USDA) Secretary Brooke Rollins announced the suspension in an X post on Sunday. "Due to the threat of New World Screwworm I am announcing the suspension of live cattle, horse, & bison imports through U.S. southern border ports of entry effective immediately," she wrote. "The last time this devastating pest invaded America, it took 30 years for our cattle industry to recover. This cannot happen again." The USDA said in a press release the first case of NWS in Mexico was reported to the U.S. in November 2024. Exclusive: Cattle Industry Chief Warns Flesh-eating Fly Menaces Us Hers As Mexico Yields On Pest Fight The problem is when NWS fly maggots burrow into the flesh of living animals, they can cause serious and often deadly damage to the animal, the USDA said. The types of animals NWS maggots can infest include pets, livestock, wildlife, birds, and in rare cases, humans. Read On The Fox News App According to the USDA, NWS was recently detected in remote farms with minimal cattle movement as far north as about 700 miles from the U.S. border. The U.S. and Mexico are working together to eradicate NWS before the deadly parasitic fly works its way to the southern border. Usda Threatens To Halt Mexican Beef Imports Over Flesh-eating Fly Crisis' Effective immediately, the USDA said, the agency's Animal Plant Health Inspection Service (APHIS) and U.S. Customs and Border Protection are restricting the imports of live animal commodities originating from or transiting through Mexico. The suspension will continue on a month-to-month basis, until "a significant window of containment is achieved," the USDA said. Livestock currently being held for entry into the U.S. will be processed normally, the USDA added, and will be inspected by a port veterinary medical officer and treated to ensure they are not carrying NWS. Maine's Federal Funding Freeze From Trump's Usda Reversed "Secretary Berdegué and I have worked closely on the NWS response; however, it is my duty to take all steps within my control to protect the livestock industry in the United States from this devastating pest," Rollins said of the work she had done with her Mexican counterpart. "The protection of our animals and safety of our nation's food supply is a national security issue of the utmost importance. Once we see increased surveillance and eradication efforts, and the positive results of those actions, we remain committed to opening the border for livestock trade. This is not about politics or punishment of Mexico, rather it is about food and animal safety." The U.S. and Mexico are taking a three-pronged approach toward achieving the eradication of NWS, which includes field surveillance with education and outreach that ensures prevention, treatment and early detection. The approach also includes controlling animal movement to limit the spread of NWS and sustained sterile insect dispersal. This is not the first time the need to eradicate NWS has occurred. In fact, the Centers for Disease Control and Prevention (CDC) said NWS was eradicated in the U.S. in the 1960s and in Mexico in the 1970s. However, the eradication of the deadly worm cost billions of dollars and took article source: US shuts southern border to livestock imports to stop spread of deadly flies
