Lamb prices in Canada reach record levels

Published 2021년 3월 18일

Tridge summary

In 2021, Canada witnessed unprecedented record prices for lamb, with heavy, ready-for-slaughter lambs reaching $2.75 per pound and feeder lambs peaking at $3.60 per pound in February. This surge in prices was attributed to the COVID-19 pandemic, which led to increased home cooking and a shift in consumer preferences towards meat, especially lamb. The demand peaked in the spring and summer of the previous year, with ethnic groups and young consumers contributing to the surge. A scarcity of lambs in September further escalated the prices. Despite concerns about a potential shortage in the future, as most new lambs are not ready for market until late summer or fall, the lamb production in Canada is expected to remain stable in 2021 due to farmers culling a higher percentage of their herds to capitalize on the high prices. However, there is an ongoing call for more Canadian sheep producers to meet the country's demand, which is currently met by 60% from imports, as Canada only produces 40% of its consumed lamb.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Last March, Owen Gentes was worried about demand for lamb. COVID-19 had become the only story in the world, and the pandemic was shutting down large parts of Canada’s economy. As a result, Gentes assumed lamb consumption would dry up. But the opposite happened. Lamb prices were strong last summer and exploded in the fall, reaching record levels. Prices for heavy, ready-for-slaughter lambs were hovering above $2 per pound last July. By December they hit $2.75 per lb., based on data from the Saskatchewan Sheep Development Board. Prices for feeder lambs, 80 lb. or under, have been even stronger. They jumped from $2.60 per lb. in October to $3.60 per lb. in February. “The prices we saw this year, we’ve never seen before. It wasn’t expected,” said Gentes, a sheep producer from Battleford, Sask., and chair of the Saskatchewan Sheep Development Board. “If I can sell a 115 lb. lamb (slaughter weight) for anything over $2, I’m happy…. When you see $2.60 that’s pretty nice money. You’re ...

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