Canada's cattle population will continue to decline in 2024

Due to drought in 2023, cow and heifer slaughter will increase in proportion to herd size, limiting any growth potential. As a result of the reduction in livestock, beef production will decrease, as well as its exports . Improved feeding conditions in 2022/23 following the 2021 drought did not support any significant expansion or significant retention of heifer numbers among calf producers.

The 2023 beef cow herd was the smallest it has been in years, and drought in parts of the southern Prairies has led to increased cow slaughter and a lack of signals to preserve heifers.

The 2024 beef cow population forecast assumes a further decline followed by a reduction in the calf population in 2024. The number of fed livestock will be maintained by importing feeder livestock from the usa .  

With fewer animals available for slaughter, slaughter is forecast to decline by one percent in 2024, following a four percent decline in 2023.

Beef production is forecast to remain stable as carcass weights improve after declining in 2023. Feeders will seek to increase finished weights to compensate for declining slaughter rates.

Beef imports are expected to rise in 2023 , with processed beef (ground beef) driving the increase as consumers shift consumption patterns amid rising costs of living. Exporters will continue to target increased EXPORT efforts in the Indo-Pacific region, but lower beef production will result in lower export volumes.