By FWi staff
SOYABEAN meal has risen 10 on the week to 179/t as suppliers await US Department of Agriculture figures, due out today.
“They have built in some protection on the back of the USDA figures, but prices have already started to ease again today, down about 1,” says David Clarke of KW Alternative Feeds.
“And reports from the Continent of the decision to stop feeding meat and bonemeal to cattle prompted buyers to switch to soya, helping to push the price up, even though no firm decision has yet been made.”
In response to the soyabean increase, Brazilian pellets have also risen 10 to 175/t.
Elsewhere in the straights market, palm kernel meal has risen 5 to 74/t.
“This sells very slowly and there is never usually much price movement. It is bought in bulk and they must just be running out of stock and are awaiting a new shipment,” says Mr. Clarke.