By Commodity News Service Canada
Winnipeg, Jan. 19 (CNS) – Following are a few highlights in
the Canadian and world feed grains markets for Friday, Jan. 19.
Cheap feed costs are accelerating construction of hog barns
in Iowa, where a third of United States hogs are raised. A story
by Reuters said higher profits from lower feed costs and strong
exports have prompted producers to build new packing plants,
according to data from the Iowa Department of Natural Resources.
Permits for pig buildings in Iowa have hit a five-year high as
U.S. corn prices are hovering around US$3.50 per bushel, well
under the all-time high of US$8 in 2012.
Canadian pork is gaining popularity in Japan, according to
a story in the Nikkei Asian Review. The Japanese prefer the
taste of the Canadian hogs who, like their Japanese
counterparts, are fed feed wheat unlike corn-fed U.S. pigs.
According to the story, Japan’s imports of Canadian chilled pork
are up 150 per cent over the past decade.
The president of the Iowa Corn Growers Association (ICGA)
is pleading with U.S. President Donald Trump to not withdraw
from the North American Free Trade Agreement (NAFTA). In an
editorial published in the Des Moines Register, ICGA President
Mark Recker argued how losing NAFTA after a drought year like
2017 would be devastating. Corn growers need a brighter outlook
for 2018, which is what trade can bring them, he said.
Feed grain prices in the key cattle feeding area of
Lethbridge increased during the week ended Jan. 12, according to
information from the Alberta provincial government. Feed wheat
is sitting at C$221 to C$225 per tonne and feed barley is at
C$220 to C$225.