Feed weekly outlook: Prices steady, demand quiet

(Photo courtesy Canada Beef Inc.)

MarketsFarm — Demand for feed grains has slowed down on the Prairies due to uncertainty in cattle markets posed by the COVID-19 pandemic.

Many cattle processing and packing plants across North America have closed or slowed production due to lack of staff, leading to widespread issues in feed grain supply chains.

“The lack of forward bids has weighed on markets,” said Allen Pirness of Market Place Commodities at Lethbridge, Alta.

Although end-users aren’t bidding for deferred delivery, spot prices have remained stable. Spot prices for barley have been around $235 per tonne delivered in Lethbridge, with feed wheat prices following suit.

Barley prices were around $240 per tonne delivered last week, and the expectation was they would soften slightly.

Feed corn has also come into southern Alberta, priced between $230 and $235 per tonne.

“That might bring barley prices down a bit,” Pirness said.

— Marlo Glass reports for MarketsFarm from Winnipeg.



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