Canada: Livestock and Products Semi-Annual

The Canadian cattle herd continued to experience contraction to begin 2025, however, there are signs of herd stabilization as cow slaughter declines and producers indicate an increase in heifer retention for beef replacement. Live cattle imports are forecast to see a reduction in 2025 on uncertainty and a weaker Canadian dollar. Slaughter is forecast down as the cattle herd is positioned to enter a rebuild phase. Both beef imports and exports are forecast to decline. A weaker Canadian dollar should position Canadian exports competitively but there remains significant uncertainty in the global trade environment. The Canadian swine herd saw year-over-year declines in January 1 inventories. The 2025 pig crop is forecast down as a result of the smaller sow herd. Live exports are forecast down on a smaller herd. Pork imports are forecast down on lowered demand and while a weaker Canadian dollar should support exports, they are forecast down on smaller production volumes and current uncertainty.