Canadian Pork Market Report – Kevin Grier

Jul 08, 2024

Key Highlights:

Consumption and Demand:
- Canadian pork consumption increased by over 14% in 2023, reaching nearly 23 kilograms per person, the highest since 2015.
- Pork demand surged by over 10%, the largest increase since 1984.
Price Trends:
- Retail pork prices in Canada rose by 1% in 2023, while beef and chicken saw higher increases.
- Pork maintained a price advantage over competing meats in both Canada and the U.S.
Market Dynamics:
- Increased imports (+13%) and reduced exports (-6%) supported domestic consumption.
- Early 2024 shows a decline in pork consumption due to lower production and exports, with prices remaining steady.
Industry Insights:
- Retailers increased pork promotions in 2023 due to higher beef and chicken prices.
- Current market challenges include a sluggish start to 2024 and fluctuating prices and demand.
Future Outlook:
- Mixed forecasts for hog prices and demand.
- Continued monitoring of production, exports, and consumer demand essential for market stability.

Conclusion: The Canadian pork market experienced significant growth in 2023, driven by increased consumption and favorable price dynamics. However, early 2024 shows a more challenging environment with lower consumption and stable prices. Ongoing industry monitoring and strategic adjustments are crucial for sustaining market health.

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In this episode of The Swine Health Blackbelt Podcast, Dr. Lucas Ferreira, a Research Assistant at the University of Minnesota, discusses trailer contamination risks at packing plants. He shares research on pathogen prevalence, seasonal trends, driver biosecurity practices, and factors contributing to contamination during transport. He highlights opportunities to strengthen biosecurity and reduce disease transmission across swine operations. Listen now on all major platforms!

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