We are now down to around 300k MT of ending stocks of barley in Canada. That is the equivalent amount of barley to feed 130,000 fat cattle. Not much room for error this harvest season. We have 1 million cattle on feed for reference. Not hard to see why barley is over $9/bu. Canadian cornfed I guess.
So far in the last year the government has committed $153 million in plant based proteins;
$690 million to poultry farms, 4756 producers = $145,000 per producer;
$1.75 billion to dairy farms, 10,095 producers = $173,000 per producer;
Cow numbers are the lowest since the 1980’s and falling. How do 60,000 beef producers compete against these kind of government dollars in competing sectors? The government is voting on its preferences. You decide Canada.
https://www.veganfirst.com/article/canadian-government-invests-153-million-in-vegan-protein-development
With April at 122, 136 looks pretty nice. Packers have all the leverage until the wave of heavy cattle clears, then feedlots will have their day in the sun.
https://www.drovers.com/news/beef-production/2019-beef-cutout-ratio-suggests-136-fed-cattle