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 Weak Canada Dollar Helps Meat Exports; COOL Offsets Benefits
 
 11/21/2008 7:23:26 AM
lbodell
165 posts
5th


Weak Canada Dollar Helps Meat Exports; COOL Offsets Benefits

WINNIPEG (Dow Jones)--Canada's exports of pork and beef have been helped along by the weakening of the Canadian dollar against its U.S. counterpart, but the recent implementation of the U.S. government's Country of Origin Labeling Law has negated some of the benefits, according to industry analysts. "Canada's pork and beef producers get paid in Canadian dollars, and because all of the international transactions are in U.S. dollars, the rate of return has improved significantly," Brad Marceniuk, a livestock economist with the Livestock Development Branch of the Saskatchewan Ministry of Agriculture, said. "On paper, it definitely makes Canada more competitive on the world market," Dr. Kevin Grier, a senior market analyst with the George Morris Centre in Guelph, Ontario said.

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