IFFO data show cumulative fishmeal production through March 2025 rose about 29% year over year, and fish oil output rose 34%, mainly driven by Peru. China's fishing bans began May 1, and farm-gate prices for high fishmeal-need species exceed year-ago levels.
Stronger Peruvian supply eases fishmeal tightness, but Chinese fishing bans and expected aquaculture and piglet demand support prices until the August-September season. Net effect is mixed for fishmeal pricing.
Not enough comparable past events yet for a historical read.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.