Animal Feed Ingredient Market Information in China On June 03, 2021
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Feed Ingredient Price List on June 03, 2021 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2870.90 | 2871.16 | -0.26 | RMB/MT |
Soybean Meal | 3510-3630 | 3500-3620 | +10.00 | RMB/MT |
Rapeseed Meal | 2940.00 | 2925.00 | +15.00 | RMB/MT |
Cotton Seed Meal | 3110.00 | 3110.00 | +0.00 | RMB/MT |
DDGS | 2523.85 | 2523.85 | +0.00 | RMB/MT |
Peruvian Steam Dried Fish Meal | 11400-11500 | 11400-11500 | +0.00 | RMB/MT |
Data Source: China Feedtrade Net Exchange Rate: 100USD=638.11RMB | ||||
Market Comments and Concern
Rapeseed Meal
Rapeseed meal price went a little higher today. US soybean price was closed higher for the surge of US soybean oil price. However, as the market was going long with the ratio of oil and meal, soybean meal at Zhengzhou Exchange dropped today. With the successive harvest of domestic rapeseed with an exorbitant price, traders have less confidence in the coming market and become cautious to purchase new rapeseed. However, the demand on rapeseed meal will be increased and the price will be supported as the profit in aquaculture is relatively high and farmers are more interested in seed stocking.
It is estimated that rapeseed meal price will keep vibrating in a short term following soybean meal, while in the long run domestic meal price will be inspired by an expected rise in US soybean price.
Source: China Feedtrade Net
