WINNIPEG — Demand for feedgrains has slowed on the Prairies because of uncertainty in cattle markets posed by the COVID-19 pandemic.
Many cattle processing and packing plants across North America have closed due to lack of staff, which has caused widespread issues in feedgrain supply chains.
“The lack of forward bids has weighed on markets,” said Allen Pirness of Market Place Commodities in Lethbridge.
However, even though end users aren’t bidding for deferred delivery, spot prices have remained stable. Spot prices for barley were around $235 per tonne delivered in Lethbridge last week, with feed wheat prices following suit.
Barley prices were around $240 per tonne delivered two weeks ago, 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.