Estimates suggest that Canada's total cattle and calf inventory has fallen considerably.

According to Statistics Canada, the overall inventory has fallen 2.3% in the year ended July 1. The decline has largely been attributed to a fall in the national beef herd, while dairy herd numbers remain relatively unchanged.

As of July 1, Canadian farms collectively comprised almost 14.5 head of cattle and calves compared with almost 15.2 million a year earlier.

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