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MARKET

April 9, 2019
 
China Soymeal Weekly: Demand under long term pressure amid dwindling sow population (week ended Apr 8, 2019)
 
An eFeedLink Exclusive
 

Price summary

Prices dipped further.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of
Apr 1
(RMB/tonne)

Price as of
Apr 8
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

2,584

2,556

-28

Liaoning

43%

2,620

2,536

-84

Hebei

43%

2,556

2,536

-20

Shandong

43%

2,518

2,588

70

Jiangsu

43%

2,548

2,532

-16

Guangdong

43%

2,544

2,538

-6

Prices are representative and are for reference only.
RMB1=US$0.1489 (Apr 9)


Attention: The publication of Weekly Reports will terminate starting April 15, 2019. Contents of the report will be available on SpoutINFO website (https://spoutinfo.com).
 

Market analysis

Over the week, prices of CBOT May soy futures rebounded 1%.

Feed consumption remained slow with the population of hog, particularly that of sow, staying low. In view of a favourable negotiation outcome between the US and China, which would result in ample imports of soy, feed producers continued to hold back soymeal purchases.

On average, soymeal prices dropped another 1.2% over the week in review.
 
 
Market forecast

Sluggish hog feed demand will continue to weigh down soymeal prices. In the longer term, hog population is likely to shrink due to dwindling sow inventories, hence further curtailing feed and soymeal sales.
 

 


All rights reserved. No part of the report may be reproduced without permission from eFeedLink.

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