Feed Outlook* – March 2019

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Despite global feed market fundamentals remaining unchanged, a drop in domestic demand plus stronger Sterling have produced a significant shift for UK buyers.

Reduced mid-protein supply following Vivergo and Ensus closures has kept rapeseed meal prices firm. However, lower soyabean demand from China and greater confidence in supply has seen US soyabean meal futures prices near recent lows. World cereal prices have also dropped.

Combined with Sterling’s recent gains, it’s meant that prices for most feeds have fallen in recent weeks. Concerns about extra feed requirements and feed availability have been replaced by opportunities for early turnout and reduced feed prices, particularly for summer contracts.

Key facts & figures:

  • Brazilian soyabean harvest 46% complete and now estimated to be 117mt1

  • Vivergo and Ensus closures cut distillers’ feeds supply by 420,000t/yr

  • US:China trade war concerns to keep investment funds out of the market

  • Soya hulls popular for digestible fibre at £50/t lower than pre-Christmas

  • NovaPro for rumen-bypass protein 18% less costly than soyabean meal

  • SugaRich Dairy and SweetStarch now even better for summer energy

1 million tonnes

* 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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