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Demand For Red Meat Slowing

The beef sector started 2020 off with strong demand for red meat internationally - especially in China as a result of African swine fever.
 
That demand slowed as Chinese workers at the ports stayed home over coronovirus fears.
 
Brian Perillat, senior analyst with Canfax, talked about the current market situation here at home.
 
"People with cattle on feed, they're in a pinch. If we look in Alberta, since coronavirus, over the last month, we've seen fat cattle values drop $150, almost $200 a head."
 
He says feedlots were finally starting to make a little money but now we’re seeing pressure on the feeder market as well.
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