Cattle producers see strong prices in Q1

2023 has seen some positive movement in market prices for the cattle sector.

Anne Wasko, a cattle market analyst with Gateway Livestock, says cattle producers have seen some record movement in prices for fat cattle this year setting a new all-time record high for fat cattle in Western Canada breaking the previous 2015 high.

She says the gains the industry has seen are long overdue, noting that in 2022 prices in Western Canada were well off the mark compared to the U.S.

"Prices in the U.S. market have moved higher, really since the last part of last year and just carried on higher again this year. This is us just kind of catching up. So it's a supply story that's not a big surprise. We've talked about that for some time, but it also has been matched with some pretty good demand for beef even at these higher prices."