Feed Cost Commentary

Understanding feed cost trends is critical for managing margins. Each month, we review current market conditions and key drivers influencing ingredient pricing across Western Canada.

January 2026

Steady Supplies Keep Markets in Check

Feed grain markets across Alberta and Saskatchewan continue to show strong supply fundamentals, keeping prices largely stable and, in some cases, slightly weaker. For pork producers and other livestock operators, the current environment favours buyers, with limited near-term risk of sharp price escalation.

Market Overview

Grain availability remains ample, supported by strong regional supplies of barley and wheat, subdued domestic feedlot demand, and a consistent flow of imported U.S. corn. Together, these factors are providing buyers with solid negotiating leverage and helping to cap feed costs through late winter.

While regional price differences persist, there are currently few signals pointing to major market disruptions before spring.

Key Feed Grain Prices

• Alberta feed barley is trading in the range of $265–$270 per tonne delivered Lethbridge, approximately $20 per tonne cheaper than delivered U.S. corn. This price advantage continues to position barley as the preferred feed grain for most feeders.
• U.S. corn imports are landing at $285–$290 per tonne delivered, effectively acting as a ceiling on local feed grain prices.
• Canola meal and other byproduct feeds remain steady, supported by strong global protein stocks and good domestic availability.

Outlook: Sideways Through Late Winter

The near-term outlook points to sideways pricing through late winter, with ample supplies and ongoing U.S. corn movement limiting upside risk. However, producers should remain alert to potential market shifts.

Risks to Watch

Feed prices could strengthen if:

• Cattle placements rebound, increasing domestic feed demand, or
• Export activity accelerates, particularly to key markets such as China and Saudi Arabia for barley.

At this stage, these risks remain conditional rather than imminent.

Looking Ahead

The next significant strategic inflection point for feed grain markets is expected after spring 2026 planting intentions become clearer. Acreage decisions and early-season weather conditions will play a critical role in shaping supply expectations for the second half of the year.

This commentary is updated monthly to provide timely insight as market conditions evolve.