2023 Cattle and hog sector outlook

The three major trends to monitor for cattle and hog operations include:

• Contracting North American cattle herd
• Feed costs
• Global red meat demand amidst an economic slowdown

Prices continue the last two years’ growth trend for cattle and hogs. In Alberta and Ontario, steer prices will climb above the average 2022 price and above their five-year averages, which they’ve lagged recently (Table 1). Ontario and Manitoba hogs are expected to hover close to the YoY and five-year average prices.

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