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Hard Wheat Cube Prices, Demand and Supply Overview
In Germany, the highest-cost reporting region, Hard Wheat Cube prices moved only close to 0.4% in Q3 2026, moving from about USD 261/MT in Q2 to near USD 260/MT in Q3, and it was stable wheat by product prices and balanced orders from dairy farms and feedlots that most plausibly shaped the move. Across the tracked regions, the global average moved from just under USD 245/MT in Q2 to just above USD 244/MT in Q3, a change of roughly 0.4%. For Q4 2026, a global average of close to USD 234 to 254/MT is expected, with grain and by product prices, pelleting costs, and livestock demand guiding the range.
Hard wheat cubes are compressed feed cubes made from hard wheat milling by products such as bran and middlings, formed under heat and pressure to a size of about ten to twenty millimetres for easy handling. They are fed to cattle, sheep, and horses as an energy and fibre supplement, with dairy and beef cattle feeding taking the largest share of demand. Wheat by product prices, pelleting energy costs, livestock demand, and freight rates all feed into the price.
Hard Wheat Cube Price Forecast for 2026
The balance of supply and demand for hard wheat cubes through the end of 2026 leans stable. Quotes moved only slightly through the third quarter, and feed mills had enough raw material to meet orders. Dairy and beef feeders continue to buy steadily.
The main upside risk is a rise in grain and by product prices or in pelleting energy costs that lifts prices above the forecast range. The main downside risk is weaker livestock margins and lower feed demand, which would pull prices below the forecast.
| Region | 2026 Price Range (USD/MT) | Outlook |
| Global Average | 234 - 254 | Stable inputs guide the range |
| Germany | 250 - 270 | Quality requirements hold the top |
| United States | 230 - 250 | Import links hold a middle level |
| Australia | 216 - 234 | Large supply holds a lower middle |
| China | 240 - 260 | Local grain keeps Australia lowest |
For the Quarter Ending September 2026
Hard Wheat Cube Prices Q3 2026:
- Germany: USD 260/MT
- United States: USD 240/MT
- Australia: USD 225/MT
- China: USD 250/MT
Hard Wheat Cube Prices in Germany
Germany Hard Wheat Cube prices averaged close to USD 260/MT in Q3 2026, little changed at near 0.4% from about USD 261/MT in Q2 2026. It was steady wheat by product prices that held the market in balance, with balanced orders from dairy farms limiting any move.
Why did the price of Hard Wheat Cube change in Q3 2026 in Germany?
Balanced orders from dairy farms and steady wheat by product prices pulled in opposite directions through the quarter, and neither was able to dominate. Compound feed makers pay for consistent quality, and energy costs for pelleting add to the price. The Germany average stayed at close to USD 260/MT.
Hard Wheat Cube Prices in United States
The United States market held to an average of just under USD 240/MT in Q3 2026, a move of just roughly 0.4% against just above USD 241/MT in Q2 2026. What kept the range tight was balanced orders from dairy farms, while steady wheat by product prices offset the pull in the other direction.
Why did the price of Hard Wheat Cube change in Q3 2026 in United States?
The United States market sat in a narrow band as Steady wheat by product prices and balanced orders from dairy farms cancelled each other out. Large grain supply and local feed mills keep American cubes competitively priced. The average for the quarter was just under USD 240/MT.
Hard Wheat Cube Prices in Australia
Australia Hard Wheat Cube prices averaged close to USD 225/MT in Q3 2026, little changed at near 0.4% from about USD 226/MT in Q2 2026. It was steady wheat by product prices that held the market in balance, with balanced orders from dairy farms limiting any move.
Why did the price of Hard Wheat Cube change in Q3 2026 in Australia?
Balanced orders from dairy farms and steady wheat by product prices pulled in opposite directions through the quarter, and neither was able to dominate. Wheat by products supply feedlots and export markets, and prices follow local grain costs. The Australia average stayed at close to USD 225/MT.
Hard Wheat Cube Prices in China
The China market held to an average of just under USD 250/MT in Q3 2026, a move of just roughly 0.4% against just above USD 251/MT in Q2 2026. What kept the range tight was balanced orders from dairy farms, while steady wheat by product prices offset the pull in the other direction.
Why did the price of Hard Wheat Cube change in Q3 2026 in China?
The China market sat in a narrow band as Steady wheat by product prices and balanced orders from dairy farms cancelled each other out. Import links for wheat by products and strong livestock demand keep the Chinese price in the middle of the range. The average for the quarter was just under USD 250/MT.
For the Quarter Ending June 2026
Hard Wheat Cube Prices Q2 2026:
- Germany: USD 261/MT
- United States: USD 241/MT
- Australia: USD 226/MT
- China: USD 251/MT
Hard Wheat Cube Prices in Germany
Germany Hard Wheat Cube prices averaged close to USD 261/MT in Q2 2026, little changed at near 0.0% from about USD 261/MT in Q1 2026. It was steady wheat by product prices that held the market in balance, with balanced orders from dairy farms limiting any move.
Why did the price of Hard Wheat Cube change in Q2 2026 in Germany?
Balanced orders from dairy farms and steady wheat by product prices pulled in opposite directions through the quarter, and neither was able to dominate. Compound feed makers pay for consistent quality, and energy costs for pelleting add to the price. The Germany average stayed at close to USD 261/MT.
Hard Wheat Cube Prices in United States
The United States market held to an average of just under USD 241/MT in Q2 2026, a move of just roughly 0.0% against just above USD 241/MT in Q1 2026. What kept the range tight was balanced orders from dairy farms, while steady wheat by product prices offset the pull in the other direction.
Why did the price of Hard Wheat Cube change in Q2 2026 in United States?
The United States market sat in a narrow band as Steady wheat by product prices and balanced orders from dairy farms cancelled each other out. Large grain supply and local feed mills keep American cubes competitively priced. The average for the quarter was just under USD 241/MT.
Hard Wheat Cube Prices in Australia
Australia Hard Wheat Cube prices averaged close to USD 226/MT in Q2 2026, little changed at near 0.0% from about USD 226/MT in Q1 2026. It was steady wheat by product prices that held the market in balance, with balanced orders from dairy farms limiting any move.
Why did the price of Hard Wheat Cube change in Q2 2026 in Australia?
Balanced orders from dairy farms and steady wheat by product prices pulled in opposite directions through the quarter, and neither was able to dominate. Wheat by products supply feedlots and export markets, and prices follow local grain costs. The Australia average stayed at close to USD 226/MT.
Hard Wheat Cube Prices in China
The China market held to an average of just under USD 251/MT in Q2 2026, a move of just roughly 0.0% against just above USD 251/MT in Q1 2026. What kept the range tight was balanced orders from dairy farms, while steady wheat by product prices offset the pull in the other direction.
Why did the price of Hard Wheat Cube change in Q2 2026 in China?
The China market sat in a narrow band as Steady wheat by product prices and balanced orders from dairy farms cancelled each other out. Import links for wheat by products and strong livestock demand keep the Chinese price in the middle of the range. The average for the quarter was just under USD 251/MT.
Quarterly Hard Wheat Cube Price Trends
Over the period, the global Hard Wheat Cube average opened the window at about USD 246/MT in Q2 2025, moved to near USD 247/MT in Q3 and just under USD 246/MT in Q4, then moved to just above USD 245/MT in Q1 2026, moved to roughly USD 245/MT in Q2 and moved to close to USD 244/MT in Q3 2026, a net decline of about 0.8% over the window. Wheat by product prices, pelleting costs, and livestock demand drove the overall price pattern.
| Quarter | Price (USD/MT) | QoQ Change | Direction |
| Q3 2026 | 244 | -0.4% | - Stable |
| Q2 2026 | 245 | +0.0% | - Stable |
| Q1 2026 | 245 | -0.4% | - Stable |
| Q4 2025 | 246 | -0.4% | - Stable |
| Q3 2025 | 247 | +0.4% | - Stable |
| Q4 2026 | In Progress | - | - In Progress |
What was Hard Wheat Cube Price in 2025?
Hard wheat cube prices edged up through 2025 and then levelled off as raw material costs stabilised. The global average rose from near USD 244/MT in Q1 2025 to just under USD 246/MT by Q4, a full-year gain of just above 0.8%.
Hard Wheat Cube Prices in Germany in 2025
Through 2025 the Germany average climbed from near USD 260/MT in Q1 to just under USD 262/MT in Q4, a rise of just above 0.8%. What shaped the year was steady grain prices and stable demand from dairy and pig farms.
Hard Wheat Cube Prices in United States in 2025
Through 2025 the United States average climbed from near USD 240/MT in Q1 to just under USD 242/MT in Q4, a rise of just above 0.8%. What shaped the year was steady grain prices and balanced demand from beef and dairy feeders.
Hard Wheat Cube Prices in Australia in 2025
Through 2025 the Australia average climbed from near USD 225/MT in Q1 to just under USD 227/MT in Q4, a rise of just above 0.9%. What shaped the year was steady grain prices and balanced demand from feedlots.
Hard Wheat Cube Prices in China in 2025
Through 2025 the China average climbed from near USD 250/MT in Q1 to just under USD 252/MT in Q4, a rise of just above 0.8%. What shaped the year was steady import costs and balanced demand from feed mills.
How We Can Help
Expert Market Research: Your Source for Real-Time Hard Wheat Cube Price Intelligence
Expert Market Research tracks Hard Wheat Cube prices continuously across every major producing and consuming region. The team traces causation through wheat by product economics, pelleting costs, and livestock demand. Contact Expert Market Research today for Hard Wheat Cube pricing data, bespoke market analysis, and strategic procurement advisory.
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Frequently Asked Questions About This Report
Cattle feeding takes the largest share. Hard wheat cubes supply energy and fibre to dairy and beef cattle, sheep, and horses.
The Q3 2026 average was roughly USD 260/MT in Germany, close to USD 240/MT in the United States, about USD 225/MT in Australia, and near USD 250/MT in China. Germany carried the highest cost, on pelleting energy costs and quality requirements.
The global average moved only slightly from just under USD 245/MT in Q2 to just above USD 244/MT in Q3 2026, a move of roughly 0.4%. Stable raw material costs and balanced orders from dairy farms and feedlots kept prices in a narrow band.
Wheat by product prices barely moved, dairy farms and feedlots kept orders steady, and feed mills held offers. No supply disruption changed the pattern.
The global average is expected between close to USD 234 and USD 254/MT for Q4 2026. Grain and by product prices, pelleting costs, and livestock demand are expected to guide the range, with a stable bias.
Germany holds the premium on pelleting energy and quality requirements, China holds a middle level on import links, the United States holds a lower middle level, and Australia prices lowest on local grain.
The report follows a monthly update cycle, and the Expert Market Research team can supply more frequent pricing on request.
Prices respond mainly to wheat by product prices, pelleting energy costs, livestock demand, and freight rates.
Germany, the United States, Australia, China, and Canada lead production, mostly from large feed mills.
Buyers can use quarterly trends to time feed contracts, watch wheat by product prices as the lead signal, and fix volume while quotes are flat.
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