Farms.com Home   Ag Industry News

Canadian Beef Import Levy Introduced

By Amanda Brodhagen, Farms.com

A new import levy will generate funds to boost research and marker development for Canada’s beef industry.  

Currently, a fee of $1 per head of cattle for beef marketed in Canada will now also be applied to importers. Agriculture Minister Gerry Ritz and Canada beef Chair Chuck MacLean made the announcement Tuesday at O’Brien Farms in Winchester, Ont.

"This new levy will provide a stable funding source for research, market development and promotion activities on domestic and imported beef and beef products, “said Agriculture Minister Gerry Ritz.

The Farm Products Council of Canada and Canadian beef has been pushing for this amendment for several years, explains Chuck MacLean, Chair of the agency. The import levy is expected to collect about $800,000 annually for Canada’s beef sector.


 


Trending Video

Did Bears Win Thanksgiving, Will Bulls Get Christmas?

Video: Did Bears Win Thanksgiving, Will Bulls Get Christmas?


Did the bears win Thanksgiving (although this week had green on the screen), and will the bulls get Christmas? Bears won thanksgiving thanks to a USDA Nov crop report dud that stalled the bullish grain momentum for a brief period. But a bullish lower yield surprise in the Dec crop report could reignite the rally.
2026 U.S. winter wheat planting is nearly complete at 97% while crop conditions improved by 3 points to 48% good-to-excellent. US corn & soybean harvest is complete.
High corn demand, which is off the chart, and more Chinese soybean demand could support a Christmas rally.
Nasdaq had it’s worst November since 2011.
A U.S. Fed rate cut in December will help fund flow and sentiment.
Bitcoin held a long-term support at 80,000 and that's positive for fund flow and sentiment. It should help stock prices and Ag as we go into December.
Fertilizer prices continue to climb as we look ahead to 2026. Farmers may rely more on the nutrients that they already have in their soils.
South American Weather remains critical as the soybean reproductive stage starts from late Nov to late Feb depending on planting date.
Will a Russia-Ukraine peace deal happen by year-end?
CFTC data as of showed more managed money fund sell-off as of October 14th.