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November 23, 2011
 
Philippine Feed Weekly: Corn prices steady; other feed prices continue to dip (week ended Nov 10, 2011)

An eFeedLink Exclusive
 

Price summary

Prices of Philippine feed grains continue to drop over the week albeit corn prices remain unchanged.

Traders say corn producers have not increased prices due to livestock and feed producers' plan to import the grain. The latter explained that prices of corn went overboard at PHP15 a kilo from the usual PHP12 a kilo.

Observers say feed prices are still uncertain in the coming weeks as demand has not picked up despite the approaching holiday season.
 
 
Market Analysis
 
Although there have been no typhoons in weeks, rains have been pounding the Visayas and Mindanao regions recently, affecting agricultural trade.

According to the authorities, farms have been affected by monsoon rains which resulted in massive floods in most areas, particularly the farm lands.

Corn prices have not moved in the past two weeks. Weaker than the usual demand for feeds is one factor as meat processors and end users of meat are patronising imported fresh meat rather than live animals which stirs the need for feeds.

Traders also point out to lower prices of corn in the Asian market and prices will continue to decline as buyers have shifted to other alternatives such as wheat. According to traders at the Chicago Board of Trade, cheaper availability of animal feed grade wheat is affecting demand for corn.

Market watchers are wary of the price movements of feeds in the coming weeks as its non-movement or a decline would readily support the livestock producers' allegations of rampant smuggling of imported meat which is more saleable than that of live hogs.
 

Prices of raw feed ingredients (in PHP/kg)

FEED INGREDIENTS

Nov 3

Nov 10

Changes (in PHP/kg)

Yellow corn

15.75

15.75

0.00

Rice Bran

11.25

11.00

-0.25

Copra meal

11.90

11.90

0.00

Pollard 

12.90

12.65

-0.25

Feed wheat

15.85

15.30

-0.55

Coconut oil 

58.90

56.50

-2.40

US soymeal

22.50

21.80

-0.70

Argentina soymeal

20.80

20.50

-0.30

Molasses

5.90

5.90

0.00

Fishmeal

48.00

48.00

0.00

Note: Prices are quoted from National Federation of Hog Farmers Incorporated.
US$1 = PHP43.25 (Nov 23, 2011)

 

 


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