Feed Barley Prices Still Historically High, but Facing Headwinds

Apr 06, 2023

Western Canadian feed barley bids remain historically strong, despite easing off their highs over the past month and trending lower.

With bids of around C$410/tonne into the Lethbridge feedlot alley, feed barley “is still a sell,” analyst Mike Jubinville of MarketsFarm said as part of a webinar. However, he cautioned the barley market continues to face headwinds, including the availability of American corn.

The feedlot industry on this side of the border has become much more comfortable importing corn from the US, he said, with the relative convenience of bringing up a trainload of American corn compared to contracting hundreds of trucks of local barley helping to keep corn in feed rations even as the price spread shifts. The preference is still for barley, but if the economic opportunity of bringing in corn by rail is there, the feedlots will continue to take it, he said.

On the export front, Canada remains very price competitive shipping barley to China, but that could easily change, Jubinville said. A trade dispute between Australia and China is keeping Australian barley out of the Chinese market for the time being, but talks between the two countries could change that, he said.

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Video: Spring 2026 weather outlook for Wisconsin; What an early-arriving El Niño could mean

Northeast Wisconsin is a small corner of the world, but our weather is still affected by what happens across the globe.

That includes in the equatorial Pacific, where changes between El Niño and La Niña play a role in the weather here -- and boy, have there been some abrupt changes as of late.

El Niño and La Niña are the two phases of what is collectively known as the El Niño Southern Oscillation, or ENSO for short. These are the swings back and forth from unusually warm to unusually cold sea surface temperatures in the Pacific Ocean along the equator.

Since this past September, we have been in a weak La Niña, which means water temperatures near the Eastern Pacific equator have been cooler than usual. That's where we're at right now.

Even last fall, the long-term outlook suggested a return to neutral conditions by spring and potentially El Niño conditions by summer.

But there are some signs this may be happening faster than usual, which could accelerate the onset of El Niño.

Over the last few weeks, unusually strong bursts of westerly winds farther west in the Pacific -- where sea surface temperatures are warmer than average -- have been observed. There is a chance that this could accelerate the warming of those eastern Pacific waters and potentially push us into El Niño sooner than usual.

If we do enter El Nino by spring -- which we'll define as the period of March, April and May -- there are some long-term correlations with our weather here in Northeast Wisconsin.

Looking at a map of anomalously warm weather, most of the upper Great Lakes doesn't show a strong correlation, but in general, the northern tiers of the United States do tend to lean to that direction.

The stronger correlation is with precipitation. El Niño conditions in spring have historically come with a higher risk of very dry weather over that time frame, so this will definitely be a transition we'll have to watch closely as we move out of winter.