January 25, 2021
China Whey: Sharp price hikes on robust demand, cost rise (week ended Jan 25, 2021)
As the prices of soymeal rallied to levels unseen since June 2014, feed producers were eager to look for more economical substitutes. This, in conjunction with growing demand for piglet and sow feeds amid expanding inventories, stimulated the sales of whey. With the import costs US whey soaring amid tight supplies and demand robust, traders lifted prices significantly over the week.
High import costs of whey, resulting from tight supplies in the US and rising freight charges, will lend strong support to the whey market. Meanwhile, sales will remain strong with piglet and sow feed demands increased and soymeal prices high.
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