“And very mixed in the direction they’re going,” Leclerc added.

She said some in the industry are saying the feedlots are full and feed prices are coming down, while other people indicated prices are largely unchanged.

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Leclerc said elevator prices are flat as well, but wheat prices have been pointing upward. That should lead to higher prices for feed wheat.

“They’re going to have to eventually buy it at a level where its comparable to where you can sell it elsewhere,” she said.

Feed prices were steady to higher across Western Canada, according to Prairie Ag Hotwire.

For the week ended April 1, feed barley gained seven cents in Alberta at C$5.01 to C$6.75 per bushel delivered and it added four cents in Manitoba at C$4.60 to C$4.75. Prices in Saskatchewan were unchanged at C$5.12 to C$5.45 bu./del.

As for feed wheat, prices were firmer, with the only increase in Manitoba of five cents at C$6.32 bu./del. Alberta was steady at C$5.97 to C$8.41 bu./del. and Saskatchewan held at C$7.30.

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Haley said on March 12 that there’s an ongoing lack of farmer selling, plus stiff competition from the grain companies looking to export barley.

“That competition keeps moving a little more south,” he said of the latter. “The grain companies are very aggressive in purchasing barley out in the country for export.”

Added to that, Haley said there’s a minor third reason, a pickup in demand from end users after being on the quiet side for the last four months.

Haley placed feed barley at C$295 per tonne delivered Lethbridge for April-May-June and feed wheat at C$287. He suggested barley could poke above C$300/tonne in the coming weeks.

“If you do see that and the weather is agreeable to production, you better be selling the living daylights out of it,” he stressed.

Weather will be a determining factor, he continued.

“I was at the (Alberta Beef Industry Conference) last week and the CattleFax out of the U.S. is not predicting a nice growing season for Alberta and southwest Saskatchewan,” Haley said, noting “We’ll find out soon enough.”

Prairie Ag Hotwire reported feed barley was steady to higher for the week ended March 11, with Alberta up 15 cents at C$4.79 to C$6.21 per bushel delivered to the elevator. Manitoba saw a gain of nine cents at C$4.60 to C$4.70/bu.del. and Saskatchewan was unchanged at C$4.90 to C$5.45.

Feed wheat in Alberta and Saskatchewan was holding at C$5.97 to C$7.76/bu.del. and C$7, respectively. The Manitoba price rose 10 cents at C$6.14/bu.del.

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“China stepped up and bought a lot of Canadian origin barley, which put the price up C$40 (per tonne) off the low for new crop,” Peterson said.

He reported feed barley bids at C$290/tonne delivered in Lethbridge for old crop and C$270 to C$275 for new crop. Feed wheat was trading at C$280 to C$285/tonne delivered.

Peterson said feedlots in southern Alberta are well-covered for grain.

“You have southern Alberta in relatively good shape right now for coverage. So you have two markets trading,” he added. “We’re poised to trade higher once we see some demand come back to the market in southern Alberta.”

Purchases of corn imported from the United States have quieted down as of late, said Peterson. But if there is continued demand for feed grains in the Canadian export market, he expects more corn to enter the markets due to its price parity with feed barley.

“If barley trends higher, you’re going to see feeders in the spring and summer switch to adding corn in their rations to limit the upside on barley,” Peterson explained.

As spring approaches, so does a potential weather market. Because of this, Peterson believes prices won’t be steady in the coming weeks.

“If we start getting some decent moisture, you’ll probably see some more grain liquidate off the farm,” he said. “Right now, we’re poised to continue to move higher or stay where we’re at. But we’re looking to go lower over the next three months.”

Prairie Ag Hotwire reported on Feb. 27 that delivered feed barley prices in Saskatchewan ranged from C$4.90 to C$5 per bushel, steady from the week before. The range in Alberta was from C$4.79 to C$6.05/bu., up seven cents from the past week. In Manitoba, it was C$4.60 to C$4.61/bu., down one cent.

For feed wheat, the price in Saskatchewan was C$7.00/bu., unchanged from the previous week. That in Manitoba was C$6.04/bu., up 10 cents. Values ranged from C$5.97 to C$7.76/bu. in Alberta, up five cents.

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“The only strong bids out there are the line companies for export,” Beusekom said. “The feed guys are more or less flat.”

“The line companies are bidding farmers aggressively … for export,” he continued, adding that feedlot alley doesn’t need to look very far for enough barley or wheat.

In about a 100-kilometre radius, “they have a lot of local supply around them”, Beusekom noted. “In this crop year, they have not had to get aggressive looking for grain.”

He said the feedlots have bought about 95 per cent of the amount of barley and wheat they purchased this time last year, even with fewer cattle.

“They don’t have to move the market to get that supply.”

Feed prices

Beusekom said feed barley was about C$265 to C$270 per tonne delivered Lethbridge. Wheat and corn were around approximately C$270 to C$275 per tonne delivered Lethbridge, with corn keeping barley from going higher.

Prairie Ag Hotwire cited feed barley in Alberta at C$4.79 to C$5.99 per bushel delivered as of Feb. 18, up 11 cents on the week. Saskatchewan was unchanged at C$4.90 to C$5/bu. delivered, while Manitoba nudged up one cent at C$4.60 to C$4.62.

For feed wheat, PAH listed an 11-cent increase in Alberta at C$6.31 to C$7.70/bu. delivered. Saskatchewan and Manitoba held at C$7 and C$5.86/bu. delivered, respectively.

Beusekom said farmers need to start looking at new crop barley and wheat. That they should meet with their buyers and “put some hedges on.”

Supplies

Agriculture and Agri-Food Canada projected all wheat for feed, waste and dockage to bump up to 3.78 million tonnes in 2026/27 from 3.60 million in 2025/26.

AAFC forecast barley for feed, waste and dockage to relatively firm at 5.63 million tonnes for the new crop year, with that for 2025/26 at 5.55 million.

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“There’s starting to be more interest. Barley and corn prices are virtually the same price,” Haley said.

Flaking corn

He noted the cost savings come with steam flaking the corn, as that adds about 20 per cent more feed value. Even the cost of adding corn distillers dried grains is offset with the process.

Also heading into Western Canada is U.S. barley, Haley said.

“There has been Montana barley up here for quite a while now,” he commented. “Sometimes it’s not very much, but sometimes it’s quite a bit.”

Otherwise, the domestic feed market remains very quiet. He placed domestic barley for February delivery Lethbridge at C$260 to C$265 per tonne, March at C$270, and April-May-June at C$285.

For feed wheat, Haley said it’s virtually the same price as barley while demand for wheat “comes and goes.”

Barley exports

One bright spot for the Prairie feed market is export demand. Haley said the line elevators are competing hard with each other for barley.

The Canadian Grain Commission reported for the week ended Jan. 25, that barley exports of 1.48 million tonnes so far in 2025/26 are nearly 40 per cent higher than a year ago. Meanwhile, domestic use is down more than 13 per cent at 614,600 tonnes.

Feed prices

Prairie Ag Hotwire reported for the week ended Jan. 28 that feed barley prices were steady to lower, with Alberta remaining at C$4.50 to C$5.88 per bushel delivered. Those in Saskatchewan fell 15 cents at C$4.50 to C$4.75 bu./del. and Manitoba shed three cents at C$4.50 to C$4.61.

As for feed wheat, prices were steady to higher, with Alberta holding at C$5.85 to C$7.48 bu./del. Prices in Saskatchewan rose 13 cents at C$7 bu./del. and Manitoba bumped up a nickel at C$5.87.

Also, Prairie Ag Hotwire listed Montana barley at the equivalent of C$3.52 bu., holding steady of the week.

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“We did see a little bit of demand come into the market, but that seems to have fizzled out now,” Ebens said. “It’s kind of gone quieter again.”

Ebens said feed barley is at C$265 to C$270 per tonne delivered Lethbridge, noting it had been around C$275 not that long ago. Feed wheat was in much the same boat, with its prices hitting C$275 and now it “has backed off a few bucks as well,” he said.

There continued to be some quantities of United States corn being imported into Western Canada. Ebens said it’s at C$285 to C$290/tonne delivered to farms in southern Alberta.

There have been two major factors in bringing down feed grain prices, one is the recent Statistics Canada report that showed large harvests this year. The other, Ebens said, is the low number of cattle available at the auctions.

Some price movement

Prairie Ag Hotwire said feed barley across the region was steady to slightly higher. For the week ended Dec. 17, Alberta saw a bump up of four cents at C$4.35 to C$5.99 per bushel delivered and there was a six-cent increase in Manitoba at C$4.25 to C$4.55. Prices in Saskatchewan were unchanged at C$4.46 to C$4.75 delivered.

As for feed wheat, the Hotwire reported prices were narrowly mixed, led by a five-cent uptick in Alberta at C$5.84 to C$7.62/bu. delivered. Saskatchewan prices were firm at C$6.88/bu., while they dipped a nickel in Manitoba at C$5.71.

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“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.

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.

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“They have nudged up a little bit,” he said, citing December barley at C$270 per tonne delivered Lethbridge.

“Right now to trade barley at C$275 is pretty close to impossible for January-February-March,” he added, noting it’s C$285 for April-May-June.

“Most of it is being bought between traders. Feedlots and end users just don’t seem to want to have anything to with it,” Haley continued. “Maybe they will someday.”

Previously, Haley said demand from feedlots was pushing up feed prices as they brought in more cattle.

Besides lackluster demand, he said farmers have been largely unwilling to part with their grain, especially barley and wheat.

“It’s hard to get a farmer to sell barley and wheat at a price the end user wants to pay,” Haley commented, suggesting trade is likely going to remain slow until the New Year.

He complimented the grain companies for the export business they have achieved so far in 2025/26.

The Canadian Grain Commission reported cumulative wheat exports of 7.83 million tonnes as of Nov. 30, up more than 13 per cent from a year ago. Barley exports reached 1.16 million tonnes for an increase of nearly 34 per cent. Haley said such needs to continue in light of the larger-than-expected Prairie harvest.

Statistics Canada issued its latest production report on Dec. 4, pegging 2025/25 barley production at 9.73 million tonnes, compared to 8.14 million the previous year. The Canadian all wheat crop of 39.95 million tonnes set a new production record.

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“I talked with some feedlots and they’re having to pay $270 to $275 (per tonne) for barley for late-December/early-January delivery,” Klassen said, pointing Canada’s strong export program in the 2025/26 marketing year.

The analyst said barley prices have been increasing despite a harvest that’s likely more than the 8.23 million tonnes Statistics Canada estimated in September. StatCan is set to release its updated production figures on Dec. 4 and Klassen pegged barley at 9.20 million tonnes. He cited the cooler temperatures in July across the Prairies as giving a boost to yields, although the quality might not be as good as other years.

To contend with that strong foreign demand, Klassen said feedlots are looking past their usual sources such as southern Alberta.

“They’re finding that when they go to these farther distances in Saskatchewan, that barley is already spoken for by the elevator to move offshore,” he explained.

With that situation, Klassen said farmers with malt barley to sell are looking to put it into the feed channels. Added to that, January is usually when the feedlots have the most cattle, increasing their need to acquire feed, be it barley, corn or wheat.

The Canadian Grain Commission reported for the week ended Nov. 23, cumulative barley exports for 2025/26 reached 1.16 million tonnes compared to 800,000 a year ago. Year-to-date wheat exports hit 7.17 million tonnes versus 6.35 million this time last year.

“We probably need one and a half million tonnes of (United States) corn to come in here to fill the demand,” he said.

Klassen believes that 2025/26 barley ending stocks are likely to be less than those for 2024/25. On Nov. 24, Agriculture and Agri-Food Canada estimated barley ending stocks for 2024/25 at 1.25 million tonnes and those for 2025/26 at one million. Those numbers could change come AAFC’s December estimates, which comes after the StatCan production report.

As for feed wheat, Klassen said good wheat prices outside of Canada have seen domestic growers sell their wheat to foreign demand. In turn, that’s reduced the amount of wheat in the Canadian feed system and underpinning prices.

Prairie Ag Hotwire placed feed barley prices in Alberta at C$4.35 to C$5.83 per bushel delivered, up 11 cents on the week. Prices in Saskatchewan were unchanged at C$4.46 to C$4.75/bu. delivered, while those in Manitoba dipped three cents at C$4.25 to C$4.44.

Feed wheat gained eight cents in Alberta at C$5.84 to C$7.48/bu. delivered. The Manitoba price edged up three cents at C$5.86/bu. and Saskatchewan was steady at C$6.88.

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“Feed prices are kind of in a holding pattern,” said Motz. “There’s lots of supply, there doesn’t appear to be lots of demand at the moment.”

With that, Motz noted feedlots appear to be well covered and business simply comes down to “wait and see.” He placed feed barley prices at C$260 to C$265 per tonne delivered Lethbridge for March-April-May.

He was reluctant to give prices for feed wheat since there has been so little business for it. And with barley prices less than those for corn, he believes there isn’t a lot of corn coming in from the United States.

Motz said it comes down to feeders waiting to see if they can purchase barley at the price they want or bring in U.S. corn.

Western Canadian feed prices

Prairie Ag Hotwire reported feed barley and wheat prices were largely steady across Western Canada for the week ended Oct. 22, with the only gains in Manitoba.

Feed barley was up 13 cents in Manitoba at C$4.00 to C$4.32 per bushel delivered. Saskatchewan prices held at C$4.25 to C$4.75/bu. delivered with Alberta remaining at C$4.35 to C$5.60.

In Manitoba, feed wheat tacked on two cents at C$5.65/bu. delivered. Saskatchewan was unchanged at C$6.88/bu. delivered with Alberta steady at C$5.46 to C$7.25.

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