April 13, 2021
China Lysine: Slow usages, weak hog market curtails sales (week ended Apr 12, 2021)
As hog prices plummeted further while the costs of soymeal remained low, feed producers withheld purchases of lysine. Lysine producers held prices low while the costs of corn moved lower in a bid to stimulate sales.
Transacted prices of 98.5-percent lysine in China were stable to lower in the range of RMB10.60-12.30/kg.
Export prices of 70-percent lysine softened to US$0.81/kg.
Usages of lysine are expected to be slow amid low cost of soymeal and a weak hog market. Lysine producers are likely to cut prices with corn cheaper and demand slack.
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