Beef Market Update — Unreal Retail Prices Not Limiting Consumption...Yet

The grass is greening up, the calves are hitting the ground and the steaks are about to hit barbeques across North America, even as cattle prices flirt with new record highs. There’s no way around it — it’s a great time to be a cattle producer in Canada.

No one begrudges the cattle industry some profitable times, but as we move through a period of expected strong demand and cattle prices, will we begin to see beef prices pull back?

To begin digging into that analysis, Anne Wasko, of Gateway Livestock, and Lyndsey Smith connect for this week’s Beef Market Update, below. StatsCan’s March retail price report is out and the numbers are nothing short of staggering, says Wasko, who highlights the year-over-year price growth that’s defying the traditional assumptions made about beef price elasticity.

How long can this last? We’re headed into prime barbeque season, and the star of the season — beef steaks and burgers — are pricier than ever. Will consumers move their dollars elsewhere? If they do, when does that trickle back to cattle prices?  Take a listen to the discussion below.

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