Glacier FarmMedia — The holiday season has been a typically quiet one for feedlots and feed grain markets, said trader Evan Peterson of JGL Commodities in Moose Jaw, Sask.
“Feeders seem to be very well covered going into the holidays here. The markets are still staying very quiet,” Peterson said. “(The feed barley) market’s still very quiet at the C$265 to C$270 (per tonne) delivered Lethbridge value.”
He also said barley is priced at approximately C$20/tonne less than corn, maintaining the former’s status as the preferred grain at feedlots.
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Peterson added that while grain movement continues at a good pace, buying and selling on the markets are slowing down, describing recent activity as “execution mode” compared to “buying and selling mode”.
Delivered feed grain prices in Lethbridge have come off recent lows and demand has stayed strong, but he expects little price movement for a while.
“Personally, I think the market’s going to be sideways for the next few months until the spring,” Peterson said. “I’m kind of anticipating slow trade in the next six to eight weeks, anyway.”
Looking back at this year, what stood out most for Peterson were the high crop yields relative to previous years.
“We moved a lot of grain off the combine. Right now, the producers seem to be fairly comfortable with what they’ve sold. They’re kind of waiting for the next round of selling and we’ll see what happens when the calendar turns,” he added.
Delivered feed barley bids in Saskatchewan ranged from C$4.46 to C$4.75 per bushel as of Dec. 10, unchanged from the previous week, Prairie Ag Hotwire reported. In Alberta, prices added seven cents at C$4.35 to C$5.94/bu. and those in Manitoba lost three cents at C$4.25 to C$4.49/bu.
Delivered feed wheat was steady in Saskatchewan at C$6.88/bu delivered. In Alberta, prices nudged up three cents at C$5.84 to C$7.57/bu. while prices in Manitoba lost 12 cents at C$5.76/bu.
