With the current economic situation, we find ourselves in at the moment, there are certain segments of the economy that are finding the lower Canadian dollar something of an opportunity. Chief among these segments seem to be the Canadian beef production industry. Even with turbulent market conditions, there are several rays of hope out there for beleaguered producers.
Canada exported about $1.5 billion in beef products to the U.S. last year. Brian Perillat, the senior analyst at cattle market research outfit Canfax, says the high U.S. dollar has helped keep Canadian beef prices up even as the U.S. market has started to retreat.
“As the (Canadian) dollar goes down, it certainly helps our prices relative to the U.S.,” said Perillat.
“Basically every time the loonie drops a cent, on average our calf prices go up about five cents a pound, holding all other things consistent.”
Many large restaurant chains are starting to see the benefits of Canadian beef as well. McDonald’s Canada, for example, is in the final months of a pilot project to verify cattle farms that supply beef to the restaurant chain across Canada as sustainable. Canada is the first country in the world the pilot project is being tested in.
The pilot project is part of a larger project that will see the corporation purchase beef for restaurants from sustainable sources. The verification process is quite robust and relies heavily on RFID/Cattle tracking technology implemented by the producers who apply to be considered in this process.
Lakeland Can Help You Gear Up Your Cattle Operations
Many provinces are offering funding for cattle tracking equipment including RFID, weighing systems, and other cattle handling technology. The Lakeland Farm And Ranch Direct, a division of Lakeland Group are experts at navigating the application process for these programs and can help you get the funding you need to modernize your operation.
“I appreciated the way Lakeland helped me get the paperwork done & invoiced correctly to maximize the funding on the SK Voluntary Traceability Program. It worked really well & I received my rebate cheque in just 2 weeks from submitting my application!” – Rachelle, Maple Creek, SK
Lakeland offers a full range of RFID and Weigh Scale equipment, as well as everything you could possibly need to run, improve and expand your Cattle Handling set-up.