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March 5, 2019
                   
China Soymeal Weekly: No sign of recovery (week ended Mar 4, 2019)
                                                                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices slid further.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of
Feb 25
(RMB/tonne)

Price as of
Mar 4
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

2,712

2,656

-56

Liaoning

43%

2,708

2,646

-62

Hebei

43%

2,666

2,574

-92

Shandong

43%

2,648

2,594

-54

Jiangsu

43%

2,686

2,584

-102

Guangdong

43%

2,652

2,568

-84

Prices are representative and are for reference only.
RMB1=US$0.1492 (Mar 5)

 
 
Market analysis
 
Over the week, prices of CBOT May soy futures tumbled 1.32%.
 
Poor hog feed demand continued to hamper the sales of soymeal in China. Meanwhile, plunging soy futures prices further dampened the buying interest for soymeal, dragging average weekly price down by 3%.
 
 
Market forecast
 
The rampant spreading of African Swine Fever, which was most recently reported in Guangxi on February 27, will continue to haunt the hog sector, thereby driving down feed demand. Soymeal market is set to stay weak in the coming weeks.
 

 

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