Glacier FarmMedia | MarketsFarm — Demand for barley at feedlots continues to be strong amidst a rapid seeding pace in Saskatchewan, according to a trader.
Evan Peterson of JGL Commodities in Saskatoon said there is still a need for barley as cattle inside feedlots get bigger.
“So we’re trying to finish them out. Demand is staying strong, but guys are pretty well-covered on the buying side of it,” Peterson said, adding that while corn shipments are still coming in, barley is the most in-demand feed grain.
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He anticipates barley prices to stay between C$315 to C$320 per tonne in Lethbridge for the next few weeks, but stocks are tightening.
Peterson estimated seeding progress around the Trans-Canada Highway to be at around 90 per cent, but he suggested that figure may come down to 50 per cent as one travels north on Highway 11 from Regina.
Timely rains are needed if there is to be a decent barley crop in the province this year, Peterson said.
“We’ve had a little bit of a shot, but a lot of areas are missing the rain right now. We need to see something form here in order for these last little ending stocks to (be freed up),” he added.
