Rapeseed meal price down, soya holds

By FWi staff

THE usual seasonal fall in demand from compounders has resulted in further weakening in prices for rapeseed meal.

Despite Hull crushers current stocks running low, the spot value of home-produced rapeseed meal has fallen £8 to £85/t.

Further weakness can be expected with the approach of spring, as some buyers, finding their own stocks are better than expected, cancel contracts, says David Clark of KW Alternative Feeds.

Soya market prices continue to reflect sluggish world demand and overloaded inventories following last years record US bean crop.

Traders are eyeing Brazils promising harvest prospects as the crop reaches maturity. Januarys devaluation of the Brazilian Real makes it potentially an even keener competitor in the already over-supplied marketplace.

Latest Chicago futures for US soya beans continue their pessimistic trend, losing value well into the period covered by next seasons harvest.

Nevertheless, Hi-Pro has edged up £1 to £128, while Brazilian 48% meal, reflecting sentiment, is off only £1 at £123.

Imported maize gluten has fallen £5 to £94/t, against £99/t and £95/t for home-produced pellets and meal respectively.

In an otherwise static market, home-produced dried sugar beet pulp was up £4 to £89/t. KW Alternative Feeds increased its quoted price by this amount, claiming it followed the increase posted by Trident Feeds.

Trident was not available to comment.