May 28, 2014
Price of meat in Canada soars 16% in April
The price of meat is going up drastically, according to Statistics Canada (StatsCan), with the price of stewing beef jumping 16% in April to CAD13.22/kg (US$12.18 /kg).
Of the 10 meat prices that StatsCan tracks, chicken prices went up the least amount by 2% in April, followed by hot dogs and sausages (4%), bacon (6%) and prime rib roast (6%). The price of round steak increased 10% to CAD16.01/kg (US$14.75/kg) in April from December 2013, while the price of sirloin steak increased 10% to CAD20.12/kg (US$18.54/kg).
The Canadian Meat Council, which represents more than 50 pork, beef and lamb producers in the country, says meat prices are up substantially but that it''s a supply-demand situation and the prices of these commodities are set on the Chicago Mercantile Exchange.
The Council''s Ron Davidson says the drought in the United States has had a major impact on cattle herd numbers, hitting the lowest since the 1950s. The porcine epidemic diarrhoea (PED) virus which has affected young pigs in the United States since last May has also contributed to soaring meat prices. Canada has seen the virus in pigs primarily in Ontario with a limited number of cases in Prince Edward Island, as well as some in Quebec and Manitoba.
Davidson says the situation will swing back if producers retain the breeding animals instead of sending the female animals to market to produce more animals, although he acknowledges that "it takes time."