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China

February 20, 2019
                               
China Soymeal Weekly: Quiet post-festive market (week ended Feb 18, 2019)
                                                                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices dropped marginally.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of
Feb 4
(RMB/tonne)

Price as of
Feb 18
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

2,800.00

2,788.00

-12.00

Liaoning

43%

2,830.00

2,824.00

-6.00

Hebei

43%

2,800.00

2,786.00

-14.00

Shandong

43%

2,780.00

2,768.00

-12.00

Jiangsu

43%

2,780.00

2,764.00

-16.00

Guangdong

43%

2,830.00

2,798.00

-32.00

Prices are representative and are for reference only.
RMB1=US$0.1488 (Feb 20)

 
 
Market analysis
 
Over the week, prices of CBOT March soy futures closed lower by 0.44%.
 
Soymeal market was quiet as weak hog prices shattered the confidence of feed millers. Moreover, most feed producers and traders extended the Chinese New Year holidays and resumed operation at a slow pace.
 
On average soymeal prices slid 0.88% over the week.
 
 
Market forecast
 
Hog population is low due to the high release volumes during January. With feed consumption weak and feed producers treading cautiously, soft soymeal demand will weigh down prices in the coming period.
 

 


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