The United States Department of Agriculture has dropped a report painting a grim picture of the Canadian beef industry in 2024. And according to an Alberta market analyst, most of its forecasts check out. The Canada: Livestock and Products Annual report predicts an ongoing contraction of the Canadian cow herd driven by a dwindling heifer herd created in part by producers sending them to feedlots in response to drought. High cattle prices may help, but there are challenges in that respect as well, said Anne Wasko.

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