Feed Outlook* – April 2019

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soyabeans-in-hands

Falling global soyabean prices and a stronger Sterling offers livestock farmers an opportunity to lock in cost savings on summer and winter feed proteins.

Good soyabean harvest estimates for South America have combined with lower demand from China to increase market confidence in soyabean supply, with knock-on effects on UK soyabean meal and soya hulls prices.

With the potential for prices to rise if Sterling weakens means that securing a level of forward cover on protein feeds is worth considering to manage price risk. For many feeds, current prices are very close to recent historic lows, with rapeseed meal prices also softening.

Key facts & figures:

  • Near-complete Brazilian soyabean harvest estimated at 116.5mt1

  • US soyabean year-end stocks are set to reach around 24.5mt1

  • Soyabean meal summer contracts as low as £280/t at some points

  • Lower price for soya hulls offers good value for digestible fibre

  • Rapeseed expeller has more oil and energy than traditional rapeseed meal

  • NovaPro supplies similar DUP2 to soyabean meal at 10-15% less £/t

1 million tonnes
2 digestible undegraded protein

* Prices correct at the time of writing and subject to change. Unless otherwise stated, all prices quoted are for 29t tipped bulk loads delivered on-farm within 50 miles of origin.

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