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lean beef in retail meat case
Beef Cattle, Cattleman’s Corner, Markets

Beef demand outlook brightens

U.S. consumer spending — the main driver of beef demand — is improving

By
U.S. and Canadian inflation reached 40-year highs in June of 2022. Interest rates reached 22-year highs in the summer of 2023. For the past two years, most financial analysts were forecasting a U.S. and Canadian recession at some point in the future. When the recessions didn’t occur, they delayed the recession forecast by three to […] Read more
Photo: Thinkstock
General

Canadian food inflation to slow through 2024, report says

More certainty has brought an uptick in grocer promotions, but consumers are struggling

By
Canadian food prices are expected to rise between 2.5 and 4.5 per cent in 2024, according to a new report. “It is probable that Canadians will continue to experience the strain of food inflation compounded by increasing costs of housing, energy and various other expenditures,” according to Canada’s Food Price Report 2024.
(Noel Hendrickson/DigitalVision/Getty Images)
Dairy Cattle, Livestock

Farmgate milk price hike delayed to May

Stakeholders say increase should be postponed amid food inflation concerns

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The farmgate price of milk will go up May 1, 2024, rather than Feb. 1, after a review of the national pricing formula and consultation with stakeholders. The increase will be 1.77 per cent, or about 1.5 cents per litre for milk going into processing plants, the Canadian Dairy Commission said Wednesday. The commission had […] Read more
(FatCamera/E+/Getty Images Canada)
General, Markets, Reuters

Major grocery chains agree to help stabilize prices, feds say

Any moves must not undercut farmgate prices, government warns

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Ottawa | Reuters — Canada’s five major grocery chains have agreed to help the government in its bid to stabilize soaring prices, a senior minister said on Monday, following talks to address an issue that is hurting the ruling Liberals. Innovation Minister Francois-Philippe Champagne made the announcement after two hours of what he said were […] Read more
File photo of the produce section at a Canadian grocery store. (FatCamera/E+/Getty Images)
General, Markets, Reuters

Trudeau summons top grocers over rising food prices

Major grocers' level of profit 'does not make sense,' PM says

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Ottawa | Reuters — Prime Minister Justin Trudeau on Thursday said he had summoned the country’s top grocers to help find solution to the surging food prices and vowed to cut federal taxes on new rental buildings, as he fights an affordability crisis that has dented his party’s opinion poll ratings. After meeting with Liberal […] Read more
File photo of the produce section at a Canadian grocery store. (FatCamera/E+/Getty Images)
General, Markets, Reuters

Canada retools inflation baskets with more focus on food, gas

Snowblowers and barbecues in, DVD players out

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Ottawa | Reuters — Canada’s national statistics agency on Tuesday revealed new weights for the basket of goods and services in its Consumer Price Index, giving more prominence to changes in the prices of food and gasoline. The reweighting, which Statistics Canada carries out every year, has historically had only a marginal impact on the […] Read more
(Dave Bedard photo)
Crops, Markets, Weather

FCC offers new credit line against ‘current economic environment’

Ag lender to waive loan processing fees

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Farm Credit Canada’s recent outreach to specific agrifood sectors hit by unusual environmental conditions has now extended to those hit by the broader “economic environment.” The federal ag lender on Tuesday said it will offer an unsecured credit line of up to $500,000 with loan processing fees waived, “to help producers, agribusinesses and agri-food operations […] Read more

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