February 16, 2016
China Soymeal Weekly: Quiet market holds prices flat (week ended Feb 14, 2016)
An eFeedLink Exclusive
Price summary
Prices were mostly unchanged.
|
Weekly transacted prices of soymeal in China | ||||
|
Region |
Protein content (%) |
Price as of Jan 31 |
Price as of Feb 14 |
Price change |
|
Heilongjiang |
43% |
3,000 |
3,000 |
0 |
|
Liaoning |
43% |
2,640 |
2,640 |
0 |
|
Hebei |
43% |
2,630 |
2,630 |
0 |
|
Shandong |
43% |
2,600 |
2,600 |
0 |
|
Jiangsu |
43% |
2,580 |
2,600 |
20 |
|
Guangdong |
43% |
2,600 |
2,600 |
0 |
|
Prices are representative and are for reference only. | ||||
Market analysis
CBOT soy futures prices rebounded after softening during the period in review.
As crushers and feed millers gradually halted operation during early February due to the approaching of Chinese New Year, prices of soymeal were mostly unchanged amid light trade.
In the subsequent week, the market resumed trading on February 14 but sales were limited.
Market forecast
Soymeal demand is expected to be limited as livestock inventories have diminished substantially before Chinese New Year. Moreover, with the outlook of China's economy uncertain, feed millers will withhold buying to be on the safe side.
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