Canadian ranchers were the recipients of good news recently as the federal government announced a new market has opened up for Canadian cattle, sheep and goats.

Vietnam and Canada have reached a trade agreement which could be worth $50 million annually for Canadian livestock producers.

The news could not have come at a better time for second-generation cattle rancher Cole Harvie. He tends to nearly 500 head of cattle on his ranch in Canada.

"Any market that opens up is a great thing for us," says Harvie. "Every time we get the opportunity to market our cattle, it's more money for farmers."

Harvie's wife, Jill, says the past seven years have been difficult for cattle producers. The creation of new markets could lead to new ranchers.

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