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China

January 3, 2018

China Whey Weekly: Prices stagnant under weak hog market (week ended Jan 2, 2018)

An eFeedLink Exclusive
 

Price summary

Prices stayed flat.
 

Weekly port transaction prices of whey in China

Specification

Port

Price as of Dec 25
(RMB/tonne)

Price as of Jan 4
(RMB/tonne)

Price Changes
(RMB/tonne)

Low protein

Shanghai

6,000

6,000

0

 

Tianjin

5,800

5,800

0

 

Chengdu

6,300

6,300

0

 

Guangzhou

5,800

5,800

0

 

Dalian

5,800

5,800

0

 

Beijing

5,800

5,800

0

 

Xiamen

5,800

5,800

0

High protein

Shanghai

8,500

8,500

0

 

Tianjin

8,500

8,500

0

 

Chengdu

8,500

8,500

0

 

Guangzhou

8,500

8,500

0

 

Dalian

8,500

8,500

0

 

Beijing

8,500

8,500

0

 

Xiamen

-

-

-

Prices refer to port transaction prices for bulk purchases in Dalian, Shanghai, Guangzhou, etc, and are for reference only.
RMB1=US$0.1537 (Jan 3)

 

Suppliers' quotes

Price quotes of US feed-grade whey remained weak in the range of US$331-551/tonne.

In Europe, whey prices were in the range of EUR550-590/tonne.
 

Market analysis

China's hog prices closed the year 22% lower compared with 2016. With piglet population showing no signs of recovering and hog prices failing to pick up as strongly as anticipated, feed producers were reluctant to increase purchases of whey.

Staying flat for the consecutive third week, whey market ended 2017 with prices 27% below 2016's levels.
 

Market forecast

With demand poor, whey market is expected to remain weak. Traders are likely to cut prices further as renminbi has appreciated prominently lately, which helped to lower the costs of imports.
 

Remarks: Prices refer to port transaction prices of low-protein whey and are for reference only.

 

Remarks: Prices refer to CIF China price quotes (US-Dollar) of low-protein whey and are for reference only.

 


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