Beef prices have reached record highs on grocery store shelves in Canada as many grocers and butchers prepare for the busiest time of year of the holiday season.

According to Statistics Canada, a kilogram of ground beef now costs an average of $13, up from $10 in 2020, and a sirloin steak now costs roughly $22, up from less than $16.

Joel Orlik, the proprietor of Wellington Butchery in Ottawa’s west end, told CTV News that he anticipates the increases and orders his chops ahead of time. Despite his desire not to scare away buyers, he knows the market’s current state.

“We charge what we think we have to charge, but we’re always cognisant of the fact that we’re also the community store,” he said.

Orlik considers Wellington Butchery, a fine craft butcher, but over the years, the price differential has been comparable to that of retail grocers.

“The food stores have been catching up with me on price. “When they sell something similar to our quality, they’re not far off,” Orlik stated.

The beef market has faced severe challenges, including mad cow disease 20 years ago and the COVID-19 pandemic, which forced cattle farmers to sell up most of their herds.

Sylvain Charlebois, a food distribution expert and Dalhousie University professor believes the rising prices are partly due to North American farmers selling their herds owing to rising feed costs. The price of a steer has risen by 64 percent since 2020, affecting grocers, butchers, and consumers alike.

Unfortunately, they’re likely going to rise even more over the next couple of years.” Charlebois said.

“They experienced a tremendous catastrophe with mad cow 20 years ago, and when prices rise, many people say, ‘Let’s sell now. Let’s go out and do something else. That’s exactly what is going on. This is why prices are so expensive. “Who can blame them?”

According to Charlebois, the size of Canadian herds has been constant since 1987. Such high levels have not been recorded in the United States since 1951.

“Because of droughts, feed costs went up, and when feed costs go up dramatically, cattle ranchers tend to sell off their herd,” according to Charlebois. He believes beef is so expensive around the holidays that people seek more affordable protein sources.

“I believe turkeys will be priced fairly this year, as we witnessed at Thanksgiving. In certain parts of Ontario, we saw turkey for $0.90 per pound. Charlebois spoke.

“Beef is perhaps one of the most volatile things at a supermarket. It has been like this for many years.”

Strong demand for steaks and ground beef in North America also drives up prices. Charlebois observes that if farmers do not reinvest in the market, prices will continue to grow over the next two to three years.

Related News:

Trudeau Promises to Beef Up Border Security at Mar-a-Lago Meeting

Kiara Grace

Kiara Grace is a staff writer at VORNews, a reputable online publication. Her writing focuses on technology trends, particularly in the realm of consumer electronics and software. With a keen eye for detail and a knack for breaking down complex topics.

Kiara delivers insightful analyses that resonate with tech enthusiasts and casual readers alike. Her articles strike a balance between in-depth coverage and accessibility, making them a go-to resource for anyone seeking to stay informed about the latest innovations shaping our digital world.

The Competition Bureau of Canada has announced it is suing Google for alleged anti-competitive behaviour in its internet advertising.

In a statement, Competition Bureau Commissioner Matthew Boswell said that Google improperly linked two advertising tools to retain market dominance and utilized this dominating position to rig ad auctions by favouring its tools.

He stated that the Competition Bureau has filed a case with the Competition Tribunal, a court-like independent entity, requiring Google to sell two of its ad technology products.

In a statement, Google stated that the Canadian complaint “ignores the intense competition where ad buyers and sellers have plenty of choice, and we look forward to making our case in court”.

“Our advertising technology tools help websites and apps fund their content, and they enable businesses of all sizes to effectively reach new customers,” said Dan Taylor, vice president of global advertising.

This case focuses on online web adverts, which appear to people when they visit other websites.

Digital ad inventory or the space website publishers make available for sale, is frequently purchased and sold through automated auctions conducted on digital platforms.

These platforms are known as ad tech tools, and the full set of tools utilized during the purchasing process is known as the ad tech stack.

According to the Competition Bureau, an inquiry revealed that Google “abused its dominant position” as Canada’s largest ad tech stack.

“Through a series of calculated decisions taken over multiple years, Google has excluded competitors and entrenched itself at the centre of online advertising,” the Competition Bureau stated in its notice announcing the claim on Thursday.

“Google’s near-total control of the ad-tech [software] is a function of premeditated design and conduct, rather than superior competitive performance or happenstance.”

The agency requested the Competition Tribunal to compel Google to sell two of its ad tech products and pay a fine of up to 3% of the company’s global revenue “to promote compliance” with Canadian competition laws.

Google has 45 days to file a response with the tribunal.

The case comes barely a week after the US Justice Department and a group of states asked that Google sell Chrome, the world’s most popular web browser, as part of a series of measures to prevent the internet behemoth from preserving its monopoly in online search.

The Competition Bureau is an independent law enforcement agency that protects and promotes competition for Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.

The Competition Bureau website states:

The Competition Bureau is taking legal action against Google for anti-competitive conduct in online advertising technology services in Canada. The Bureau has filed an application with the Competition Tribunal for an order that, among other things:

• Requires Google to sell two of its advertising technology tools: its publisher ad server, DFP, and its ad exchange, AdX;
• directs Google to pay an administrative monetary penalty equal to three times the value of the benefit derived from Google’s anti-competitive practices, or if that amount cannot be reasonably determined, 3% of Google’s worldwide gross revenues and
• prohibits Google from continuing to engage in anticompetitive conduct and practices.

The final decision in this matter rests with the Competition Tribunal, independent of the Bureau.

Related News:

Google Provides a Free Gemini Live AI Assistant for All App Users

Google Provides a Free Gemini Live AI Assistant for All App Users.

Geoff Brown

Geoff Thomas is a seasoned staff writer at VORNews, a reputable online publication. With his sharp writing skills and deep understanding of SEO, he consistently delivers high-quality, engaging content that resonates with readers. Thomas’ articles are well-researched, informative, and written in a clear, concise style that keeps audiences hooked. His ability to craft compelling narratives while seamlessly incorporating relevant keywords has made him a valuable asset to the VORNews team.

(VOR News) – The share prices of ASML and its competitors in the European computer chip equipment market increased significantly after an article appeared in Bloomberg News on Thursday.

It was also found that the share prices of other companies that operate within the sector increased, which was another trend that was observed within the industry.

According to what is indicated in the article, it is possible that the restrictions that the United States of America intends to place on the semiconductor industry in China would not be as severe as was initially feared.

As of 08:09 GMT, the shares of ASML had climbed by 4.3%, while the shares of BE Semiconductor and ASM International, two of ASML’s competitors in the Netherlands, had increased by 5% and 2.9%, respectively.

This meant that these two companies were among the most successful performers on the European benchmark STOXX 600 index. A company known as ASML is one that conducts business in the Netherlands.

There was a 4.3% increase in the value of ASML’s shares.

There is a corporation that operates in the Netherlands that is known by the name ASML and their operations are being carried out there.

According to a report that was published by Bloomberg, the United States of America will not include the giant Chinese memory chip manufacturer ChangXin Memory Technologies Inc (CXMT) on the list of trade restrictions that would be imposed by the United States.

This information was obtained from the article. The information that was supplied by Bloomberg allows for the acquisition of this particular piece of information. It was stated in the study that it was not practicable to identify sources who did not wish to be recognized without first obtaining their knowledge and consent.

An additional instance of interest that caught the attention of the reader was the fact that the report states that neither the time of the decision nor the particulars of the choice are known. This is yet another case of interest that drew the reader’s attention.

Following the Thanksgiving holiday break, the US Department of Commerce, which is in charge of monitoring the US export limitations to China, is expected to issue new directives. This is because the United States is responsible for enforcing these restrictions.

This is because the United States of America is responsible for monitoring the constraints. This is because the United States of America is accountable for safeguarding China’s interests. This explains why this is the case.

On the other hand, ASML has made the decision not to comment on the topic, despite the fact that it is by a substantial margin the most renowned provider of equipment for the manufacturing of semiconductors for the semiconductor industry.

During an investor day that took place two weeks ago, the firm announced that it anticipates the percentage of total revenues that includes sales of its instruments to China to decrease to twenty percent in the year 2025.

The investor day featured this ASML prediction.

The prediction was made during the day that was reserved for investors. There was a drop of approximately fifty percent at this point in time, which occurred throughout the course of the six quarters that came before this one.

When the current level, which is roughly fifty percent, is taken into consideration, this will be considered a big decline.

Applied Materials, KLA Corporation, Lam Research, and Tokyo Electron are just a few of the other leading providers of computer equipment that are based in the United States. Other firms that also fall into this category include Tokyo Electron.

The field of computer technology is home to each and every one of these businesses. There is not a single one of these businesses that does not have its headquarters in the United States of America.

SOUREC: USN

SEE ALSO:

Increasing its Stake in OpenAI by $1.5 Billion is a Possibility for SoftBank.

“Un-American Threats” Target Donald Trump’s Cabinet Nominees and Appointments.

Salman Ahmad

Salman Ahmad is a seasoned freelance writer who contributes insightful articles to VORNews. With years of experience in journalism, he possesses a knack for crafting compelling narratives that resonate with readers. Salman’s writing style strikes a balance between depth and accessibility, allowing him to tackle complex topics while maintaining clarity.