By FWi Staff
RUMINANT straights have soared over the past week, experiencing the most sizeable increase in the last 18 months, said Martin Douglas of Cargill plc.
This last increase can be attributed to a rise in the protein complex in Chicago, along with a number of energy sources being in tight supply, noted Mr Douglas.
“Prices are also currency-related to a certain extent,” he said. “But perhaps the biggest factor to affect them will be the US Department of Agriculture report due next week.”
Distillers dried imported meal rose £4 to £96/t and maize gluten home-produced pellets climbed £5 to £87/t. Imported pellets also rose, climbing £4 to £81/t.
Home-produced rapeseed soared £7/t, while both soya-bean meal hi-pro and Brazilian 48% pellets and meal both rose £4/t.
Pure fishmeal was the only commodity to fall, dropping £11 to £499/t.
The fishmeal market has been dominated by the El Niño effect on South America, said Ian Pike of the International Fish Meal and Oil Manufacturers Association, “and production is half or even one-third of what it normally would be.”
World production is normally 627 million tonnes, but could be as low as 450-500 million tonnes predicts Mr Pike: “Prices have been firm and we have seen prices at record highs this season.”
Mr Pike felt that the fall seen this week was only a fluctuation, and anticipates continuing high prices until the end of the year. Even then it will be a slow recovery, he said.