Outlook update for cattle and hogs: Shifting destinations for red meat exports

This is the update to our May 2022 cattle and hogs outlook, which follows Q1 updates to our grains, oilseeds and pulses and dairy outlooks.

Despite higher-than-average prices, profitability in 2022 will be mixed across the livestock sector. The beef sector continues to benefit from strength of consumer demand, and cattle prices are expected to exceed both the 2021 average price and the most recent five-year average prices throughout 2022 (Table 1). Projected average hog prices for 2022 remain elevated as well, with the caveat that prices will be lower in Quebec if the $40 per 100 kilogram price cut remains in effect... Read More