Protein meal prices fall further

Wednesday, 7 January, 1998

By FWi staff

THE UK price of high-protein ruminant straights fell further this week on expectations that South America is heading for a bumper soyabean crop.

Home-grown rapeseed meal dropped £12 to £130/ tonne and imported US soyabean meal eased £9 to £195/ tonne.

South American soya plantings are reportedly high and Brazil is expecting high yields when harvest gets under way in May.

The continued strength of Sterling and cancellation of orders in the Far East has also helped suppress protein meal prices.

But January values are still relatively high for the time of year. Increased supplies of US soyabeans have failed to reach the levels forecast – although traders expect prices to ease further over the coming months.

Maize gluten was also a major mover on the market. Import prices climbed £6 to £92/ tonne following significant European buying and delays in shipments.

Of the other commodities shown in our table below, imported citrus pulp fell in price by £4 to £62/ tonne. Palm kernel eased £1 to £57/ tonne.

Distillers dried meal (£120/ tonne) and sugar beet pulp (£88/ tonne) both rose in price by £1.

All other ruminant straights remain available at pre-Christmas prices with the exception of Brazilian soyabean meal, which is withdrawn pending this seasons harvest.

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