A very successful week for Flokk Systems Inc. exhibiting at the Canadian Beef Industry Conference. We learned a lot, and added many valuable members to our network.
Our takeaways:
- The industry has tremendous vitality, and holds enormous opportunity serving growing domestic, US, and other export markets.
- Alternate source proteins are not even a point of discussion. The demonstrated failure of meat substitutes to gain traction, and the growing profile of health issues related to ultra-processed foods, supports beefs dominant position as the premium protein source.
Specifically to our domain:
- Digitization is required to realize many industry initiatives; traceability, ranch profitability, leveraging animal data both up and down the supply chain, sustainability, and sustaining and growing market access. Cow/calf remains the laggard in digitization, hindering progress on all these initiatives.
- There is broad industry support for the outcomes of the forthcoming traceability regulations. Industry stakeholders will drive cow/calf to meet, and exceed, their regulatory obligations.
- We are impressed with MyLivestock.ca. They have identified and addressed a compelling opportunity automating the reporting and documentation requirements for livestock shippers, and have effectively engaged their customer base. We had an engaging discussion, identified opportunities for collaboration, and agreed to keep in touch and seek mutual opportunities.
- The final traceability regulations are projected to be published early 2025, with implementation in 2026.
- The industries approach to the traceability regulations align with our own. Addressed in a comprehensive and integrated matter, the tool set and processes required to realize traceability compliance will also deliver immediate, and substantive, returns to cow/calf through sustainability incentives (e.g. Verified Beef Canada certification) and improved management analytics. Following quickly thereafter, these tools will realize returns for ranchers from delivery of complete, and reliable, animal history to down stream players, and from monetization of GHG mitigation technologies and practices.
Flokk uniquely offers the strategy, team, technology, and relationships necessary for Canada’s cow/calf ranchers to rapidly and easily prosper from their emerging role in the highly interconnected future of Canada’s beef industry.
Thank you to chair Scott Wright and his team for assembling an outstanding and productive event.
