CTV News - Why drought on the prairies is making your steak more expensive
“Prices are definitely going to go higher, no ifs, ands or buts about it,”
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This recent article, highlighted by CTV News, sheds light on the significant impact of consecutive drought years on North America's beef industry, leading to higher retail prices for consumers. Ranchers, faced with depleted grasslands and rising input costs, have been forced to downsize their herds, resulting in a reduction in overall beef production.
Both Canada and the U.S. have seen declines in their national cattle herds, with experts warning that tight supplies and higher beef prices are here to stay for the foreseeable future. Despite efforts to mitigate the effects of drought, such as shipping cattle to alternative grazing areas, the long-term solution lies in sustainable management of water resources and a reversal of the current trend.
By quantifying the effects of climate change on Canada's water resources, the C1W project represents a critical piece of virtual water resources infrastructure that can help decision-makers and policy analysts in the food/agricultural sector to ensure the sustainability of Canada’s critical agri-food industry.
Click here to read the article at CTV News
“In Canada, the size of the national cattle herd has been declining for years, a trend that continued last year amid a punishing drought in Western Canada. This country’s beef cow inventory fell in 2023 by 1.5 per cent to 3.66 million animals — the lowest level since 1989.”
Butcher John Wildenborg works in his independent meat shop in Calgary, Wednesday, Feb. 14, 2024. THE CANADIAN PRESS/Jeff McIntosh
“Even if the current drought cycle were to end this year, cattle numbers can’t rebound overnight. That’s why experts say the new era of higher beef prices is here to stay, at least for a while.”