By FWi staff
THE ruminant straights market continues to respond to technical influences as a number of commodities become short at ports.
Over the past fortnight, distillers dried imported meal has climbed £6 to £116/t on the back of tight supplies for maize gluten.
The shippers engineered their shipping programme to finish at the end of March in a move to try and prevent themselves from being left with stores over the summer months, and all the expense that goes with it, said David Clark of KW Alternative Feeds.
But as the maize gluten ran out, the shippers turned to Rotterdam, bringing new supplies in on barges, which is an expensive exercise, he added.
Mr Clark expects imported gluten and distillers imported meal to be maintained at this level until the end of May or early June.
“The only thing that will bring prices down is if the market has a quiet period – which is unlikely to happen.”
Soya remains relatively stable, experiencing small price movements in both directions over the week.
Shippers dropped their prices today (Wednesday) by £2, which has been transferred on to the spot market. “We thought our prices were a little too high,” said one shipper.
As a result, soya bean meal hi-pro has fallen to £141/t and Brazilian 48% pellets dropped to £137/t.