Feed market outlook* – Jun 2019

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Traffodgold clamp tipping image

The global commodity feed markets continue to remain broadly confident that supply will meet demand despite delays to North American crop plantings.

Progress over the next few weeks will be critical in determining any longer-term price trends – recent developments have seen prices lift significantly – and the level of any subsequent volatility. For UK livestock producers, the weak value of Sterling continues to add pressure to imported feed prices.

Watch the markets closely for any further weather news that may affect prices. The Argentine soyabean harvest is 91%, so the focus is firmly on North American corn and soyabean plantings at this stage, and prices could go either way.

Key facts & figures:

  • 1.26US$/£ exchange rate back down to the level seen at the end of last year

  • US corn plantings 58% complete (5yr avg = 90%), soyabeans at 29% (vs 66%)

  • CBOT1 soyabean futures above US$320/ton, first time since September 2018

  • Processed bread and Soda Wheat still good value despite recent price rally

  • Soya hulls great value thanks to large 2018 South American soyabean harvest

  • Traffordgold, brewers’ grains or draff best options for palatable digestible fibre

1 Chicago Board of Trade

* 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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