By FWi staff
STRAIGHTS prices have moved in the past week as cattle were put out to grass and the demand for feed ingredients fell.
Soya bean meal hi-pro dropped £9 this week to £132/t for spot deliveries, with Brazilian 48% pellets and meal also slipping £9 to £122/t.
The soya market has been moving up and down slightly over the past few weeks on the back of weather in the USA, said David Clarke of KW Alternative Feeds.
But the spot price has been very high due to technical difficulties. A major factor contributing to this was that new shipments arrived, bringing spot prices into line, he said.
Mr Clarke believes that expected record plantings in the USA again this year should help bring the price down more. “Soya values will see some further easing over the next few weeks,” he added.
Prices are likely to remain depressed until the end of June and, if farmers have soya to purchase, it will definitely worth looking at before then, advises Mr Clarke.
Home produced rapeseed meal has also fallen over the week, dropping £7 to £81/t as sales virtually dried up.
There is talk that the crushers are looking for winter deals, so have had to drop their spot prices to attract interest in the market.
Maize gluten fell £6/t overnight as a large shipment was reported to have been diverted to the UK, increasing supplies. Interest has also dropped off, adding to the downward pressure.
However, there were some price rises this week as molasses climbed £5/t with the introduction of the summer price list. Cane molasses rose to £92.30/t and molmax to £79.80/t.
These prices are likely to remain at similar levels now for the next three to four years, said Mr Clarke.
Malindo palm kernel expell meal also rose this week as it climbed £11 to £82/t. This increase is the result of technical difficulties as stores start to run low.
The political situation in Malaysia has not helped, adding to the volatility of the market, said Mr Clarke.
When a new shipment arrives values can swing £9-£10/t in a week and now might not be the best time to buy, he said.
“Watch what happens over the next few weeks because prices will fall when a new shipment arrives.”