January 13, 2014
 
China Soymeal Weekly: Prices continue to slide with lukewarm demand (week ended Jan 10, 2014)
                                                                            
An eFeedLink Exclusive
 
 
Price summary
 
Prices were stable to lower.
 

Region

Protein content (%)

Price as of Jan 3
(RMB/tonne)

Price as of Jan 10
(RMB/tonne)

Price change
(RMB/tonne)

Heilongjiang

43

4,000

4,000

0

Liaoning

43

3,960

3,960

0

Hebei

43

3,820

3,800

-20

Shandong

43

3,920

3,920

0

Jiangsu

43

4,000

3,850

-150

Guangdong

43

3,920

3,790

-130

Prices are representative and are for reference only.
RMB1=US$0.1654 (Jan 13)

 
 
Market analysis
 
Though sales improved as feed millers started restocking soymeal prior to the Chinese New Year, increasing supplies weighed down the market. Together with sluggish feed demand, especially the negative impact from recent cases of bird flu, soymeal price fell further in some of the regions.
 
 
Market forecast
 
China soymeal prices are expected to stay soft in the coming weeks, as seasonally low demand and increasing supplies are dragging down the market, while feed millers' inventory expansion remains slow. 
 

 

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