The Canadian cattle industry is experiencing unprecedented profitability, with cattle prices reaching all-time highs. Despite this positive outlook, there are significant concerns about the ongoing trade war with the United States and its impact on the industry's stability.
CCA President Tyler Fulton emphasized the industry's current success, stating, "Cattle prices really have never been higher, you know, profitability is excellent for cattle operations." He added, "Overall, I think we're really optimistic about the industry broadly, but we're really concerned about the trade war with the United States."
The Canadian Cattle Association is closely aligned with trade policy with its U.S. counterpart, the National Cattlemen's Beef Association. This alignment brings confidence that both countries can work through trade issues, despite the challenges posed by tariff threats and countermeasures. Fulton noted, "The North American market is a fully integrated market that is very complementary and relies on that two-way flow of both live animals and beef."
Fulton also expressed optimism about working with the new government, stating, "We look forward to working with Prime Minister Carney, cabinet ministers, and all Parliamentarians to ensure our economic growth as a sector and as a country, starting with a strong focus on our relationship with the United States."
The cattle industry is primed and ready to grow its herd, with significant incentives due to high prices. This growth is seen as a major contributor to economic development, especially after the long recovery from BSE. Fulton encouraged producers, saying, "Hold back your heifers. There's just a phenomenal opportunity, not just here in North America, but globally."
The global demand for beef production has never been greater, making Canadian beef producers a key economic driver for Canada. Fulton highlighted the priorities for policymakers, including trade and market access, reducing regulatory barriers, and supporting effective economic tools like livestock price insurance.
Export-driven agriculture continues to be a key growth sector of Canada’s economy, with the beef cattle sector contributing $29 billion to GDP and providing more than 347,000 full-time-equivalent jobs. Fulton stressed the need for strong policies to support economic growth amid trade tensions.