US shipping delay cuts straights supplies

By FWi staff

TECHNICAL delays on shipments from the USA have led to tight supplies, and values remain firm.

On the back of limited supplies, maize gluten prices rose this week with home produced pellets climbing £6 to £95/t.

Home-produced meal also firmed rising £5 to £92/t and imported meal and pellets inched £4 at £98/t.

Soya prices appear to have stabilised following a volatile trend over recent months. There are ample supplies and much of the Brazilian stock remains unsold, said one trader.

Prices are likely to stay unchanged or even drift, he said.

There is still a large amount of business to be done and many producers have yet to cover their winter requirements, said Peter List of Dalgety.

Prices should remain stable and are likely to ease further over the following months, he said. “The exchange rate will be the major factor influencing values.”

With the uncertainty in the pig market, and the expected number of pigs down later this spring Mr List predicts prices to fall back. “I wouldnt buy forward unless prices were £10/t below what they are now,” he said.