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FEED & LIVESTOCK MARKET

December 4, 2018
 
China Soymeal Weekly: Slow feed demand drags down China soymeal prices (week ended Dec 3, 2018)
 
An eFeedLink Exclusive
 

Price summary

Prices moved lower.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of
Noc 26
(RMB/tonne)

Price as of
Dec 3
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

3260

3150

-110

Liaoning

43%

3300

3170

-130

Hebei

43%

3260

3180

-80

Shandong

43%

3320

3210

-110

Jiangsu

43%

3250

3230

-20

Guangdong

43%

3270

3170

-100

Prices are representative and are for reference only.
RMB1=US$0.1453 (Dec 4)

 
 
Market analysis

Over the week, prices of CBOT January soy futures closed higher by 1.5%.

Sales of soymeal were sluggish with hog feed consumption slow and the protein requirements of animal feeds reduced. Moreover, soymeal buyers before the presidents of China and the US met during the G20 summit.

Over the week, prices of soymeal plummeted 2.4% on average.
 

Market forecast

Domestic demand for soymeal will remain slow as the hog sector is plagued by the African swine fever and the protein requirements of feeds are lowered. Prices are seen stable to lower in the near term.
 

 


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