US beef profits soar on Canadian Mad Cow Disease sca - leatherbiz: Lea Leatherbiz

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US beef profits soar on Canadian Mad Cow Disease scare

04/06/2003

Spurred by the detection of Mad Cow Disease in Canada, the price of US wholesale beef and profits for beef packers have hit record highs.

 

Since the US banned all Canadian imports of cattle on May 20, 2003, the average profit margin for the country’s beef packers has risen from an estimated $43.70 per head to $101.50.

 

Cattle in the US plains has traded $1-2 higher per hundred pounds (cwt) and the country’s beef exports have increased to Canada, Japan, South Korea, China, Mexico, Brazil, the Philippines and many other countries which have banned Canadian beef.

 

The situation is expected to last until the US, which has never detected a case of BSE, reopens its cattle imports from Canada.

 



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