By FWi staff
THE volatile straights market gained support this week, with a number of commodities rising. But the biggest mover of the week was pure fishmeal, plummeting £24 to £475/t.
The fishmeal market has been steadily decreasing over the past few months, said Ian Pickles of KW Alternative Feeds. He blames increased fishing, especially in South America, for forcing prices down.
“But these lower prices will help pig and poultry producers,” he said.
Distillers dried imported meal gained £5, climbing to £103/t. Maize gluten home-produced pellets and meal also rose, pushing up £2 to £86/t respectively.
Soya-bean meal hi-pro rose £7 to £146/t and Brazilian 48% pellets and meal climbed £6 to £136/t. The continued drought in South America has been forcing soya prices up, said Mr Pickles.
“Most commodities generally become short before Christmas, and this can artificially hype the market,” said Mr Pickles.
“It is likely to take until the second half of January before we see any normalisation again. The physical availability wont improve until the holiday is over, and even then it will depend on currency and weather in the Western Hemisphere.”
Peter List of Dalgety agreed with Mr Pickles and echoed that dry weather in South America was pushing the price up.
The fishmeal market has been depressed for some time, he said, and last week it had reached an all-time low.