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Weekly Straights Update: 11th July 2024




The figures in the charts are an indication only and reflect levels traded on Wednesday.

Click on a product name for more information


  • The South American supply picture is improving, with material starting to move more easily.

  • Premiums are easing at origin, which can only be conducive for a bearish market.

  • This being said, hopefully a quicker downward trend will be seen than there has been over the last month.

 

  • The soya market has dropped considerably recently, causing rapemeal to fall back dramatically.

  • Any seasonality has gone in terms of weather affecting growing conditions and there doesn’t seem to be any reason for prices to rise again until something pushes soya back up.


  • As anticipated, the market has continued to firm slightly off the back of expected shortages come the end of August.

  • Regardless of said firming market, hulls remain a strong feature in the diet as a competitive fibre source.

  • Compared to sugarbeet, hulls are most definitely the preferred option when looking at cost/unit of NDF.


  • Domestically, production continues to flow with Ensus now running at 100% and no anticipated issues in the pipeline.

  • The market is still very much hand to mouth with summer production expected to create a surplus of material.

  • A rally could be seen in winter levels if rapemeal takes a turn, however it’s currently not badly priced.


  • The sugarbeet market presses on with little change.

  • Nothing major is being traded both internationally and domestically which reflects market levels.

  • Home produced material is still available, with anticipated new crop yields looking good.

  • Sugarbeet continues to price itself out of the market, with demand being lacklustre.


  • After declining prices through much of June, global wheat markets saw a gain last week, driven mainly by an increase in US demand, partly due to the rapid harvest.

  • The US winter wheat harvest is progressing quickly, at 54% complete week ending 30th June, well ahead of the 5-year average of 39% at this point of the season.

  • Russian consultancy revised its forecast for the 24/25 wheat crop from 80.7MMT to 84.1MMT, due to favourable weather conditions and high yields in the south.

  • Global barley supplies are expected to increase annually in 24/25

  • Feed barley prices are projected to align with trends in the broader grain market, although harvest outcomes in key producing countries may also play a role.

  • As it stands barley looks good value vs wheat, however the question of whether any harvest pressure will be seen, still remains.


And finally, totally irrelevant but quite interesting facts of the week…….

Blue whales eat four tonnes of krill a day and the first director of Jaws was fired because he kept calling the shark a whale.



Notes:

All data in this report are provided by KW. Price indications are based on 29t bulk tipped loads delivered to Oxfordshire and are guide prices only.

For firm prices and availability, please contact Joe Cobb on 01865 393 139


Livestock Straights Feed Prices


 

Historical Product Prices​

  • You can look back at previous product prices here

  • Use the filters below to select the Product and the Date





 

Spot Price Trends 01/01/21 to 10/07/2024 (£/t)

  • 'Price at Fixed GBP to USD (Jan 2018)' takes out the effect of exchange rate movements between £ vs. $





 

Currency Trends as of 10/07/2024. Blue = GBP:USD. Red = GBP:EUR




 

Applications and Data Analytics for Orion developed by Demand Economics Ltd.


 

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