Genesus Global Market Report Canada April 2024

The 2024 Canadian industry outlook is looking more positive for profitability each week. The projected profits by month for the 2024 calendar year currently show highs of $90+ a hog through the summer months and projected losses at the end of the year that are low. The Canada pork industry like the USA has been beaten and battered over the last number of years, a year of largely sustained profitability is beyond necessary. After a reduction of the overall pig herd across Canada it was inevitable that profitability would return but it sure has taken a long time. It is unfortunate that for our industry to be profitable we have to lose for sustained periods or for some producers just go out of business altogether. As an industry it would be logical to look at different ways for sustainable business to exist going forward rather than repeating the same cycle. Producing better tasting pork that will result in us not continuously losing market share when all consumer studies show that taste is the primary reason for consumers buying a product. Rather than getting caught up on irrelevant details about what some consumer study says is important like having grass fed pigs we need to focus on what matters. Taste. As an industry it’s not complicated at all – produce better tasting pork on a mass scale is one way to a more sustainable business.