Animal Feed Ingredient Market Information In China On August 28, 2023

 

Feed Ingredient Price List On August 28, 2023

 

Variety	Today AVG. Price(RMB)	Yesterday AVG. Price(RMB)	Growth	Unit
Corn/Maize	2898.63	2895.21	+3.42	RMB/MT
Soybean Meal	5060	4960	+100	RMB/MT
Rapeseed Meal	4020	3980	+40	RMB/MT
Cotton Seed Meal	4440	4400	0	RMB/MT
DDGS	3043	3043	0	RMB/MT
Peruvian Steam Dried Fish Meal	18800-19000	18800-19000	0	RMB/MT
Wheat	2996.74	2982.42	+14.32	RMB/MT
Data Source: China Feedtrade Net Exchange Rate: 100USD=728.4400RMB

 

 

 

Market Comments and Concern

 

Corn/Maize

 

The supply of grass-roots corn and old grains in major domestic production areas is coming to an end, and the spot supply in the market is tight, while the supply of spring corn to the market is limited, and there is a certain gap in corn supply. price adjustment. From the second half of August to the first half of September, China's aged corn inventory will continue to decline, and the demand for breeding and feed production will continue to grow. The overall supply of aged corn will continue to be in a period of shortage, and the supply capacity will continue to decline. However, the market volume of early spring corn continues to grow, and the supply of alternative raw materials is also obviously sufficient. The new season corn market is approaching. Traders in the area have sufficient corn inventories, and the support for rising corn prices is gradually weakening. It is predicted that during the period from late August to the first half of September, the probability of a weak correction in corn prices in production areas is high. However, due to the continued rise in the prices of wheat, malted malt and low-quality wheat, the decline in corn prices is limited, and there is a high possibility of a slow decline in the near future, and there is no basis for a sharp decline. However, September is still a critical period for corn growth, and the impact of the weather is still full of unknowns and uncertainties. Pay attention to the weather conditions in the northern region.

 

DDGS

 

At present, the demand for terminal feed has improved, and the market for soybean meal substitutes has risen sharply. Domestic ethanol factories are mainly raising prices, and the DDGS market continues to run at a high level. From late August to September, the operating rate of some corn starch production enterprises in China is expected to recover to a limited extent after the maintenance, but the overall DDGS production and supply will remain low until late September, and the tight production and supply situation remains unchanged. At the same time, the general price rise of vegetable protein meal raw materials has also boosted the price of DDGS. On the other hand, the peak season of aquaculture in northern China is gradually entering the second half, and the drop in demand for DDGS is also negative for its price. During the period from late August to the first half of September, it is likely that the transaction price of DDGS products will be generally stable and slightly strong.

 

Soybean Meal

 

Due to the continued hot and dry weather in the Midwest of the United States, the field inspection results showed that the soybean yield potential was lower than the government's expectations, and there were signs that more soybean export demand would shift to the United States, supporting a sharp rebound in CBOT soybean futures prices. After the rebound of soybeans in the US market, the cost of imported soybeans increased, and the increase in costs continued to support the price of soybean meal. Recently, the peak of importing Brazilian soybeans to Hong Kong has passed, the quantity of imported soybeans will gradually decrease, and the output of soybean meal will decrease accordingly. After the dog days pass, the temperature will gradually drop. Overlaying the upcoming Mid-Autumn Festival and National Day stocking, the market demand for laying hens and broilers is good and the benefits are well supported. After adding the benefits of hog breeding, the demand for soybean meal from hogs and poultry has a good prospect. , and jointly support the strong operation of soybean meal prices.

 

Source: China Feedtrade Net