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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...
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Formato: | Online Artículo Texto |
Lenguaje: | English |
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John Wiley and Sons Inc.
2021
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Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8250820/ http://dx.doi.org/10.1111/cjag.12277 |
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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 |