Beef Cattle Production in Canada - Industry Market Research Report

Grade A: Reduced demand following many different substitutes will push prices and demand downward

Canadian beef cattle farmers have yet to be able to match their historic peak in 2014, although cattle prices and profit have remained high. Overall, cattle herd numbers have fallen while demand for beef has remained relatively consistent. This constrained supply has caused a spike in cattle prices as downstream food producers have tried to meet demand for beef. The average price of cattle and calves rose considerably prior to the period, setting record revenue levels. Prices began to fall as these capacity restraints were addressed and demand for beef declined in response. This trend reversed more recently, exacerbated by the COVID-19 pandemic, which resulted in strong revenue growth. Overall, revenue has climbed at a CAGR of 2.6% over the five years to 2023, including an increase of 1.2% to an estimated $19.9 billion in 2023 alone as beef prices go. The Beef Cattle Production industry in Canada raises cattle, including cattle for dairy herd replacements, and fattens cattle to prepare them for consumption. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.