Beef Market Update – The Grind Higher Plays on the Nerves of Producers

As we get closer to the rush of the fall run and there are many questions on the table.

In this episode of the Beef Market Update, Anne Dunford and Shaun Haney discuss the grind higher and the difficulty of trying to take proactive risk management strategies with such volatile corn and feed barley prices.

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Additionally, with the rising Canadian dollar the idea that mega loads of feeder cattle are going south have abruptly ended.  Instead we are looking at the strong possibility that feeder cattle may head north.

Anne also breaks down the USDA cattle on feed report and how the 2012 drought is different than the 2011 drought for US cattleman.

If you cannot see the below embedded video, click here.

 

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3 Comments

Chuck MacLean

Shaun;

In Canada we have legislation that resembles COOL or called Product of Canada labelling.
A year ago it is my understanding the packers got a one time exemption to harvest up to 2% of their production and call it Product of Canada.

Without the exemption the feeder cattle that where here would have not been able to be harvested in Canada. ( at the time I believe China for one said all the tallow needed to be product of Canada).This legislation is still in effect and to my knowledge CFIA and others don’t seem to want to discuss it.

If it is not addessed we have a class of cattle that may have to return to the USA . Under the WTO challenge to COOL we asked for substantial transformation to be the guide to deciding if the product was USA or Canadian etc.

This issue could stand some press coverage to shine a light on it and get some clarity.

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Wayne

Actually the Province of Ontario is, if not the only one, one of the few provinces that have COOL for “fresh cuts of beef products”. It is pretty much what the US COOL was suppose to be. The “Product of Canada” labeling is not COOL. It is just determining where the product was processed. The “COOL” equivalent in Ontario is a provincial regulation that is monitored by OMAFRA. It is not regulated or monitored by CFIA.

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