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Agriculture Minister Gerry Ritz busy on both sides of the border

Defending Canada’s stance on COOL and investing in beef production

By Diego Flammini, Farms.com

As most people say when it gets to the end of the week, “Thank God It’s Friday!”

With the week he’s had, Canada’s Agriculture Minister Gerry Ritz is surely singing the praises of the weekend as he was making waves in Canada and the United States this week.

Firstly, an investment announcement of more than $3 million was made on his behalf in Manitoba to help sustain Canada’s beef production. The investment will be split between governments and other industry colleagues.

Over the next four years, government and beef industry professionals such as Manitoba Beef Producers will use the investment to establish a grassland and beef management initiative, continue to promote test farms focusing on herd health and animal feed and develop a committee to oversee research activities.

"Manitoba’s beef producers are committed to managing the health and sustainability of their animals and the land,” said Manitoba Agriculture, Food and Rural Development Minister Ron Kostyshyn in a release. “Working together with a focus on farm-level research will create valuable information for producers and result in the greatest benefits for the long-term future of the beef sector in Manitoba.”

Meanwhile in the United States…

Minister Ritz went to Washington, D.C. with members of the Canadian Cattlemen’s Association, Canadian Pork Council and other meat producer organizations to hammer home Canada’s stance on Country of Origin Labeling (COOL).

COOL requires any meat in American grocery stores to identify where the animal was born, raised and slaughtered. Minister Ritz said this labeling process can cause problems in both countries, and should it continue, look to retaliate on agricultural products coming from the United States.

“Mandatory COOL continues to hurt ranchers, businesses, and the overall red-meat industry on both sides of the border,” he said. “These meetings provided the opportunity to reinforce with key American legislators that the Canadian Government will continue to stand up for our farmers and ranchers and we will utilize all options, including retaliation, to ensure this harm is put to a permanent end.”


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Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?


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A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.