Mad cow trade bans cost billions

WINNIPEG - Canadian farmers have lost close to C$5 billion ($5.9 billion) in revenue since the country's first home-grown case of mad cow disease 18 months ago sparked trade bans, a Bank of Montreal report says.

Cattle prices have been weak since the bans and a glut of animals left on farms suggests prices will weaken further unless farmers can export young cattle or more beef products to the United States.

"Without improved market access, herd size and animal production would be expected to eventually shrink," the report says.

US officials have said the ban on Canadian live cattle may end in coming months. Draft regulations are under review.

Canadian Prime Minister Paul Martin was expected to discuss the US ban on Canadian live cattle with President George W. Bush during Bush's state visit to Canada this week.

- REUTERS