NCFA News

Packers have another record year

January 2, 2019

Performance for fed beef packers improved dramatically in 2017 because of ample cattle supplies and growing domestic and export demand. Tyson Beef had record income of US$877 million and other packers likely had record years. Thus, the question at the start of this year was: “How can we top that?” To most people’s astonishment, this year’s results have been even better.

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African swine fever – watch and learn

“Pork is the number one meat of choice in China; it’s the number one driver of food inflation, and food inflation is the number one driver of social unrest around the world — something China wants to avoid when they’re in a battle with the United States over tariffs.”

Economists within the U.S. Department of Agriculture clearly state that ASF’s expansion into Europe remains a big question mark, and whether the disease might ultimately affect all sectors of agriculture.

The global meat industry is watching how events unfold. Any significant impact to pork production and consumption in China will create a ripple effect, consequences of which will touch all major suppliers of edible protein. The Canadian beef industry needs to watch and learn.

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