Price of meat soars in April: Statistics Canada

By

TORONTO (NEWS1130) – The price of meat is going up drastically, according to Statistics Canada.

The price of stewing beef jumped 16 per cent in April to $13.22 a kilogram, according to StatsCan’s latest consumer price index report.

The price of round steak increased 10 per cent to $16.01 a kilogram in April from December 2013, while the price of sirloin steak has increased 10 per cent to $20.12 a kilogram. Meanwhile, the consumer price index, which measures the overall inflation of goods and services in Canada, was two per cent in April.

Of the 10 meat prices that StatsCan tracks, chicken prices went up the least amount by two per cent in April followed by hot dogs and sausages (four per cent), bacon (six per cent) and prime rib roast (six per cent).

The Canadian Meat Council, which represents more than 50 pork, beef and lamb producers in the country, says meat prices are up substantially but that it’s a supply-demand situation and the prices of these commodities are set on the Chicago Mercantile Exchange.

The Council’s Ron Davidson says the United States has had a drought which has had a major impact on cattle herd numbers. “They are down to the numbers they haven’t seen since the 1950s,” he says.

The other thing that has contributed to soaring meat prices is the porcine epidemic diarrhea virus which has affected young pigs in the US since last May. Canada has seen the virus in pigs primarily in Ontario with a limited number of cases in Prince Edward Island, as well as some in Quebec and Manitoba.

“But it reduces the number of pigs available for slaughter,” Davidson explains.

Davidson says the situation will swing back if the producers retain the breeding animals instead of sending the female animals to market to produce more animals. But he says “it takes time.”

Top Stories

Top Stories

Most Watched Today