More than 100,000 cattle with no place to go: Beef industry could lose $500 million by June

Cattle prices usually rise from end of February to the end of April as barbecue season begins and consumer demand increases. However, due to COVID-19, prices have stagnated.

The Beef Farmers of Ontario has figured that Quebec and Ontario producers are losing a lot of money per animal due to the pandemic. Producers are earning $238 less per animal for fed cattle weighing more than 1,250 lb. The price for feeder cattle 500 to 700 lb. is bringing in $90 less per animal while the price for cull cows (beef and dairy) is $86 less per animal.

The Canadian Cattlemen’s Association estimates there is a backlog of 100,000 head of cattle ready for market with nowhere to be processed, with 6,000 to 9,000 head added to the number each day.

The CCA estimates it costs $400,000 a day to feed those 100,000 extra cattle, and that the Canadian beef industry will lose half a billion dollars by June on market-ready cattle.