By FWi staff
RUMINANT straights prices have made a slight recovery on the falls experienced last week.
Maize gluten home-produced pellets have made a £3 recovery, bringing the current price to £77/t, along with imported pellets/meal, inching back up £1 to £71/t. However, distillers dried home-produced pellets took a further fall of £2 last week and soya-bean meal fell £4, bringing it down to £129/t.
The trade is altogether very quiet at present as farmers are reluctant to buy forward and are generally being very careful, said David Clarke of KW Agriculture. “It is hard to believe how far the price has come down.
“The reason that soya-bean meal has plummeted is the tremendous soyabean crop forecast in the USA. Many people are working from the unofficial figures rather than the official and these predict even higher harvests still.
“It is believed that the Brazilian pellets could come down as far as £99/t. Farmers will be watching to see where the prices are going at the moment rather than purchasing,” said Mr Clarke.
- Chicago soya prices firm up, FWi Markets, today (9 September, 1998)
- UK Ruminant straights prices, updated weekly