Good. Thanks for the questions.
I am not pessimistic about the future of the cattle industry. I believe we have a very bright future ahead of us, and we're already starting to see this as we've recovered our market access since 2003. Again, as global cattle supplies have tightened, and in spite of high commodity and feed prices, and in spite of a dollar at par, and in spite of recessionary levels of demand in important parts of the world, we're still seeing near record cattle prices in Canada. I believe the future is bright. There is some profitability in the industry now—in every sector of the industry, I might add—and there's an optimism across the country.
We need to get our competitiveness factors right, and that includes everything from market access to our domestic business environment here. I'm convinced that we can compete. We had a small pilot project with regards to trade in 2003. We found out that trade in fact adds a lot of value to the cattle industry, because saw prices go from close to $1.20 on fed cattle to about 50¢ a pound when we lost our access to foreign markets. And that wasn't just the U.S. market, but global access—though it was the U.S., our largest trading partner, that was the first major market to reopen to us. It wasn't the other, peripheral markets.
So we're dependent on trade. I'm optimistic about the future.