Stronger Canadian Dollar Puts Pressure on Canada's Pork Industry

The stronger Canadian dollar has led to a surge in US exports to Canada and declining US agricultural imports from Canada. One exception, however, has been US-Canadian trade in live swine. The stronger Canadian dollar has made Canadian pork less competitive on international markets against products...

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Bibliographic Details
Published in:Amber waves 2008-02, Vol.6 (1), p.3
Main Author: Haley, M
Format: Article
Language:English
Subjects:
agricultural economics
American dollar
Canadian dollar
exchange rate
Exports
Forecasts
Hogs
imports
livestock and meat industry
meat products
parity (economics)
pork
swine
US exports
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Summary:The stronger Canadian dollar has led to a surge in US exports to Canada and declining US agricultural imports from Canada. One exception, however, has been US-Canadian trade in live swine. The stronger Canadian dollar has made Canadian pork less competitive on international markets against products priced in depreciating currencies, such as the US dollar. Lower hog prices offered by remaining Canadian processors reduced incentives to finish young swine in Canada. Canadian swine prices are effectively set in the US, and USDA forecasts lower hog prices into 2008. In 2008, imports are expected to total 9.7 million head, with roughly the same proportions of finishing and slaughter hogs.
ISSN:1545-875X
1545-8741
1545-875X