A group of Canadian ranchers is calling for an investigation into meat pricing.
The Saskatchewan Stock Growers Association says it’s asking the provincial and federal governments to look into what it calls an “imbalance” between the price ranchers receive for the cattle and the price consumers pay at the meat counter.
The group says many ranchers and feedlots are operating at a loss this year. Grass is still scarce on the Prairies due to last summer’s drought, and the cost of feed grain and fuel has skyrocketed since last year.
But packers and retailers are reporting strong profits this year. The Stock Growers say they believe slaughterhouses may be intentionally running fewer shifts in order to keep wholesale beef prices high and allow fed cattle supplies to build up in the countryside.
In the U.S., the Biden administration has already expressed concerns about rising meat prices and vowed to implement policies aimed at increasing competition in the meat-packing sector.
According to Statistics Canada, the retail price of beef is up 11.2 per cent year-over-year.
This report by The Canadian Press was first published July 5, 2022.