Feed market outlook – Nov 2019

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Soyabeans in trailer

Currency fluctuations and Brexit uncertainty continue to dominate UK feed pricing, whilst global feed markets focus on the weather in key growing regions.

Greatest risk comes from a drop in the value of Sterling, with moves of 10–20% possible at very short notice. Management of this risk will likely be a high priority for many, and now could be a good time to secure remain winter feed requirements.

Any reports of negative conditions affecting worldwide production could also cause prices to react. There is also increasing focus on the potential need for more sustainable sources of protein.

Key facts & figures:

  • Chinese swine herd down by 41% due to ASF, may eventually reach 55%

  • US soyabean harvest 62% complete, good progress expected if weather allows

  • Continued deforestation in Brazil due to expansion in soyabean production

  • Wheatfeed continues to offer good value for energy despite firming of prices

  • Novapro less expensive than soyabean meal for near identical DUP1 supply

  • Soda Wheat offers chance to use low cereal prices whilst limiting SARA2 risk

1 Digestible undegraded protein
2 Sub-acute ruminal acidosis

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