Farm Credit Canada sees ongoing strong prices for cattle this year.

FCC economist Des Sobool says prices are continuing upward as part of a two year trend to rising prices.

He says cattle prices are about 12 percent higher than last year’s average.

He says prices should remain quite good due to strong demand and reduced supply.

Sobool says drought in Canada in 2021 and recently in parts of the U.S. prompted a downsizing of cattle herds.

He says with reduced supply and strong demand for beef, prices should be buoyant through 2023.
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