THURSDAY, MARCH 17, 2011
VOL. 89 | NO. 11 | $3.75
SPRING RUNOFF |
SERVING WESTERN CANADIAN FARM FAMILIES SINCE 1923
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SOGGY CONDITIONS
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NATURAL DISASTER | EFFECTS REACH CANADA
CATTLE | OPTIMISTIC OUTLOOK
Disaster in Japan could send economic shockwaves worldwide
Cows at near record prices
Country devastated by quake, floods | Japan a vital market for Canadian agricultural exports
Cattle producers optimistic as prices reach highest levels since 2000-01 BY BARBARA DUCKWORTH CALGARY BUREAU
BY ED WHITE WINNIPEG BUREAU
The devastation and disruption of Japanese port cities is raising worrisome questions about prairie farmers’ exports to that key market. “There are so many things happening all at once in Japan it’s hard to get
a really accurate picture of what the impact’s going to be,” said Canadian Wheat Board ocean transportation specialist David Przednowek. “There’s a lot of uncertainty.” The earthquake and tsunami that devastated many communities in the island nation’s central and eastern coastal areas killed thousands, has
caused dangerous breakdowns at nuclear power plants and has damaged many ocean-side buildings and infrastructure, including ports. Japan is a vital market for Canadian farm exports, buying almost $3 billion of agri-food products in 2009, according to Agriculture Canada. It was the second largest foreign cus-
tomer for Canadian wheat in 200910, buying 927,000 tonnes, according to the CWB. According to Industry Canada, Japan bought $979.7 million worth of Canadian canola in 2010 and $799 million of Canadian pork. access=subscriber section=news,none,none
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SEE JAPAN MARKETS, PAGE 3
A woman cries while sitting on a road amid the destroyed city of Natori in northern Japan after a massive earthquake and tsunami that are feared to have killed more than 10,000 people. | REUTERS/ASAHI SHIMBUN PHOTO
As cattle prices soar to near record levels, optimism in the beef sector is following close behind. “There have been huge price rallies in basically everything, feeder cattle have been strong and cows and bulls have been extremely strong,” said market analyst Brian Perillat of Canfax. “We had some weeks we averaged $80 back in 2000-2001, but it is pretty near a record.” Cattlefax in the United States reported fat cattle hit $118 per hundredweight March 10, up $5 from the record set the previous week. Prices were collected from the six-state feeding region of Colorado, Iowa, Kansas, Nebraska, Oklahoma and Texas. Cu l l c ow a n d b u l l p r i c e s a re approaching records in Canada, trading at levels not normally seen this time of year. Cows averaged $73 per cwt. last week, but many auctions were trading them for at least $80. access=subscriber section=news,livestock,none
SEE CATTLE PRICES, PAGE 2
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