Following on the heels of a recommendations report that came out of the Beef Strawman process, a new study completed by Toma & Bouma suggests three main ways Canada’s beef industry can improve its profitability.
The Canadian Beef Industry Benchmark study, conducted with the help of Drs. Steve Morgan Jones and Allan Preston, suggest that improvements in industry synergy, alignment and communications (and in some cases major improvements) are required for the Canadian beef industry to maximize its performance.
Based on responses to the study, in which participants were asked to rate various aspects of the industry, the following three recommendations have been made:
Establish a mechanism to bring national leaders together and facilitate agreement on a clear national strategy
Establish a truly effective information system that links the entire supply chain, and
Differentiate, increase value, develop new markets and marketing opportunities.
Dr. Allan Preston, a cattle producer, veterinarian and industry leader, observed that the results of this study mirror those of a quantitative study conducted by Farm Credit Canada this winter. With over 1,200 producer respondents, the FCC study is one of the largest known studies ever conducted in the Canadian beef industry.
“Both studies clearly show that the Canadian beef industry could be a lot more successful if its various parts worked better together, or at least if they communicated more effectively with each other,” says Preston.
For full details of the Toma & Bouma study click here: Canadian Beef Industry Benchmark Study.