MarketsFarm — As futures prices fall back, those for feed have been following, according to Jenny Redshaw, a trader with Agfinity at Stony Plain, Alta.
“There are lots of things going on,” she said, noting demand has been somewhat lacklustre.
“The feedlots aren’t breaking down any doors,” she added.
With prices down across the board very quickly, she quipped, “They’re dropping faster than I can even keep up with.”
Redshaw said feed barley going into Lethbridge was $390-$410 per tonne delivered. Feed wheat was more, at $450-$470/tonne.
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Other factors that have weighed on prices included good crop conditions in the three Prairie provinces and the technical market.
Prairie Ag Hotwire listed feed barley prices on the Prairies at $7-$8.89 per bushel in Manitoba, having remained steady for the past week. In Saskatchewan, prices fell by $1, at $7.56-$8. Alberta saw a small increase provincewide of 11 cents/bu. with prices at $7.18 to $9.80.
With the sharp declines in the commodities market, feed wheat lost ground over the past seven days. In Manitoba, prices pulled back 60 cents at $11.95/bu. Saskatchewan saw a decrease of 75 cents at $9.50-$12/bu. The largest drop was in Alberta, losing 95 cents at $9.75-$13.88/bu.
— Glen Hallick reports for MarketsFarm from Winnipeg.
