Prices firm in the straights market

By FWi staff

THE straights market is being led by technical influences which continue to hold values firm.

Following the recent volatile prices seen in rapeseed meal which saw values fall to £85/t at the start of the month, the market has now U-turned.

Home produced meal climbed £5 during the week to £94/t on the back of a technical position, said David Clarke of KW Alternative Feeds.

“Cargills have sold out at Hull for February and March,” he said, “and in the north, theres now only one remaining supplier, which has pushed prices back up.”

Soyabean meal prices have remained surprisingly stable as the value of soyabeans in Chicago continues to be under pressure.

Hi-pro inched up £1 at £126/t over the week as the main supplier sold out in the UK.

“Shippers are terrified of being left with stocks in the summer and are likely to run their stocks low. Theyve been caught out with the cold weather,” he said.

More has since been made available for spot delivery but, with ample world supplies, Mr Clarke expects prices to go down this winter.

The recent cold weather has led to brisk trade this week, and prices have been kept high.

Values are likely to remain stable until mid-March, said Mr Clarke. “But if the weather improves we might see some panic selling.”