Cargando…

COVID‐19 and the Canadian cattle/beef sector: A second look

After a year of adjusting to the shocks associated with COVID‐19 the Canadian cattle and beef sector faces a relatively optimistic future. This note examines the past year for this supply chain from the perspective of the consumer up to the cow‐calf producer by considering consumer reactions, labor...

Descripción completa

Detalles Bibliográficos
Autor principal: Rude, James
Formato: Online Artículo Texto
Lenguaje:English
Publicado: John Wiley and Sons Inc. 2021
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8250820/
http://dx.doi.org/10.1111/cjag.12277
_version_ 1783717069093601280
author Rude, James
author_facet Rude, James
author_sort Rude, James
collection PubMed
description After a year of adjusting to the shocks associated with COVID‐19 the Canadian cattle and beef sector faces a relatively optimistic future. This note examines the past year for this supply chain from the perspective of the consumer up to the cow‐calf producer by considering consumer reactions, labor market constraints, and supply responses. In the second quarter of 2020, the sector faced a significant challenge with continent wide shutdowns of beef packers reducing the U.S. beef supply by one‐third and Canadian beef slaughter by almost 60%. These shutdowns resulted in a sharp divergence between wholesale beef prices, which more than doubled, and fed steer prices, which declined by one third. Despite these dramatic shocks, the sector has returned to near normal conditions with prices and production levels similar to those observed prior to the pandemic. The near term prospects for 2021 are very similar to the current market situation.
format Online
Article
Text
id pubmed-8250820
institution National Center for Biotechnology Information
language English
publishDate 2021
publisher John Wiley and Sons Inc.
record_format MEDLINE/PubMed
spelling pubmed-82508202021-07-02 COVID‐19 and the Canadian cattle/beef sector: A second look Rude, James Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie Special Issue Articles After a year of adjusting to the shocks associated with COVID‐19 the Canadian cattle and beef sector faces a relatively optimistic future. This note examines the past year for this supply chain from the perspective of the consumer up to the cow‐calf producer by considering consumer reactions, labor market constraints, and supply responses. In the second quarter of 2020, the sector faced a significant challenge with continent wide shutdowns of beef packers reducing the U.S. beef supply by one‐third and Canadian beef slaughter by almost 60%. These shutdowns resulted in a sharp divergence between wholesale beef prices, which more than doubled, and fed steer prices, which declined by one third. Despite these dramatic shocks, the sector has returned to near normal conditions with prices and production levels similar to those observed prior to the pandemic. The near term prospects for 2021 are very similar to the current market situation. John Wiley and Sons Inc. 2021-03-30 2021-06 /pmc/articles/PMC8250820/ http://dx.doi.org/10.1111/cjag.12277 Text en © 2021 The Authors. Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie published by Wiley Periodicals LLC on behalf of Canadian Agricultural Economics Society https://creativecommons.org/licenses/by/4.0/This is an open access article under the terms of the http://creativecommons.org/licenses/by/4.0/ (https://creativecommons.org/licenses/by/4.0/) License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.
spellingShingle Special Issue Articles
Rude, James
COVID‐19 and the Canadian cattle/beef sector: A second look
title COVID‐19 and the Canadian cattle/beef sector: A second look
title_full COVID‐19 and the Canadian cattle/beef sector: A second look
title_fullStr COVID‐19 and the Canadian cattle/beef sector: A second look
title_full_unstemmed COVID‐19 and the Canadian cattle/beef sector: A second look
title_short COVID‐19 and the Canadian cattle/beef sector: A second look
title_sort covid‐19 and the canadian cattle/beef sector: a second look
topic Special Issue Articles
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8250820/
http://dx.doi.org/10.1111/cjag.12277
work_keys_str_mv AT rudejames covid19andthecanadiancattlebeefsectorasecondlook