US Barley Industry Holding Steady
“This is you know, evolved over the years. Going back historically, barley had a more prevalent spot in the feed market and change as we've seen corn production in the US certain global market factors that have increased demand for corn for biofuels. You've seen acres of corn and increasing in North Dakota and Minnesota at the expense of some barley acres. And so barley has really become more focused on in utilize for malt barley for beer production.”
Another expanding avenue for barley producers is the pet food market.
“Pet market is expanding more people are pet owners and they're more discerning about what they feed their pets. They actually tend to attribute their pets diets to similar to what they feed themselves and what they care about in their own in foods. So barley is a good source of plant protein and the fact that it's non GMO, which is a current preference among consumers.”
A majority of US barley is exported to Mexico, where they make beers such as Modelo and Corona. As for us barley prices,”
“Prices have been pretty strong. However Hance says like other US commodities with input costs, so high profit margins for barley producers are being squeezed