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FEED & LIVESTOCK MARKET

March 13, 2019
 
China Soymeal Weekly: Buyers withhold purchases (week ended Mar 11, 2019)
                                                                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices moved lower.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of
Mar 4
(RMB/tonne)

Price as of
Mar 11
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

2,656

2,626

-30

Liaoning

43%

2,646

2,580

-66

Hebei

43%

2,574

2,518

-56

Shandong

43%

2,594

2,567

-27

Jiangsu

43%

2,584

2,520

-64

Guangdong

43%

2,568

2,496

-72

Prices are representative and are for reference only.
RMB1=US$0.1491 (Mar 13)

 
 
Market analysis
 
Over the week, prices of CBOT May soy futures dropped 1.17%.
 
Soymeal market was quiet as feed millers withheld buying while the hog market continued to disappoint. With soy futures prices tumbling further, soymeal prices slid 2.4% over the week in review.
 
 
Market forecast
 
Soymeal prices are seen weak with hog feed sales slack. Moreover, as China and the US look set to reach a trade agreement with the former importing more agricultural products from the latter, buyers will hold back purchases in view of abundant availability of soy and subsequently soymeal.
 

 


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