USDA predicts bleak 2024 for Canadian beef sector

Nov 01, 2023

According to a western Canadian market analyst, most of that forecast checks out.

The report, published by the USDA’s Foreign Agricultural Service office in Ottawa in late September, predicted the Canadian cow herd and calf crop will continue to shrink next year. The FAS suggested beef cow numbers will fall by almost 3.7 per cent, to 3.43 million head from 3.56 million, while calf stocks are expected to see a smaller drop, to 4.2 million from 4.25 million.

“Improved feed conditions in 2022-23 following the 2021 drought did not encourage any meaningful expansion or significant heifer retention amongst cow-calf producers,” the report read.

“The 2023 beef cow herd was the smallest in recent years, and drought conditions in certain regions on the southern prairies led to increased cow slaughter and a lack of signals for heifer retention.”

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Video: CEOs of the Industry, A Conversation with Daniel Rivest, President & CEO, Olymel

Swine Web’s CEOs of the Industry series welcomes Daniel Rivest, President & CEO of Olymel, for a wide-ranging conversation about leadership, the future of Canadian pork, and the opportunities ahead for one of North America’s largest pork and poultry processors.

Rivest discusses his journey to the CEO role, his leadership philosophy, and his early priorities at Olymel. The conversation explores the company’s strategic direction, its relationships with producers, and how Olymel is positioning itself for long-term growth and competitiveness.

The discussion also tackles some of the biggest issues facing Canadian pork production today, including labor availability, global competition, animal health, trade and export markets, automation, and the growing potential of artificial intelligence throughout the food production system.

Topics include:

• Daniel Rivest’s path to becoming President & CEO of Olymel

• Olymel’s current position and strategic direction

• The outlook for Canadian pork production

• Building stronger relationships with producers

• Global trade and key export markets

• Automation, innovation and artificial intelligence

• Leadership lessons and opportunities for the next generation

The conversation concludes with a Fast Five, giving viewers a more personal look at Rivest’s leadership approach and his vision for Olymel’s future.