February 22, 2012

Canadian cattle, hog herds rise 

Canada's cattle and hog inventories expanded as of January 1 on the back of strong prices.  

Cattle ranchers benefited from prices rising throughout 2011, while hog prices reached a seven-year high in the second half of the year, Statistics Canada said on Monday.

Canada is the world's third-largest exporter of beef and pork.

Livestock farmers downsized their herds in recent years due to a combination of factors including a strong Canadian dollar and rising feed grain costs.

The Canadian cattle herd edged up 0.5% to 12.5 million heads, marking the first year-over-year increase in seven years. The inventory of beef replacement heifers rose 4.3% to 554,300 heads, indicating ranchers are starting to replenish their herds, the government statistical agency said.

Hog inventories climbed 1.1% to 12 million heads on January 1, marking the first time the herd has risen in consecutive years since 2006.

However, the hog breeding herd dipped slightly to 1.3 million sows and gilts, the lowest levels since 1999.