# Positive shift in fishmeal prices for 2024

> Rabobank expects fishmeal prices to ease in 2024 as Peruvian anchovy fishing conditions improve in the first half of the year. The second Peruvian anchovy season (November 2023 to January 2024) reached a 75% catch rate, and a larger price correction is anticipated in April. NOAA has also shifted its El Niño forecast toward weakening, with normal conditions expected from April.

- Date: 2024-02-02 · published 2024-02-02T12:00:00.000Z
- Category: weather · region Peru · magnitude medium
- Page: https://feedsoft.ai/events/31579-positive-shift-in-fishmeal-prices-for-2024
- Commodities: [Fishmeal](https://feedsoft.ai/c/FISHMEAL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Improved Peruvian anchovy catches should lift fishmeal supply and push prices lower from a tight 2023 base, reducing feed cost pressure on buyers. Softer fishmeal may also weigh on soybean meal sentiment as a substitute.

## Read by commodity

- SBM: bearish ▼
- FISHMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2024-07-17 | [La Nina Could be Positive for 2024/25 Growing Season in Brazil](https://feedsoft.ai/events/13558-la-nina-could-be-positive-for-2024-25-growing-season-in-brazil.md) | +2.0% | -7.4% |
| SBM | 2024-01-05 | [New-Crop Soybean Meal Prices Anticipating Larger Argentine Harvest in 2024](https://feedsoft.ai/events/32215-new-crop-soybean-meal-prices-anticipating-larger-argentine-harvest-in-2024.md) | -4.6% | -4.6% |
| SBM | 2024-10-28 | [Wkly Futures Market Summary For 10.28.24 - ADM Investor Services](https://feedsoft.ai/events/4680-wkly-futures-market-summary-for-10-28-24-adm-investor-services.md) | -3.2% | -5.8% |
| SBM | 2025-04-29 | [Ag Ministry: Don't Worry, Soymeal Prices Will Come Down](https://feedsoft.ai/events/11799-ag-ministry-don-t-worry-soymeal-prices-will-come-down.md) | +0.2% | +2.1% |
| SBM | 2024-10-25 | [Argentina Weather Outlook Positive for Soy and Corn Planting, Meteorologist Says](https://feedsoft.ai/events/27780-argentina-weather-outlook-positive-for-soy-and-corn-planting-meteorologist-says.md) | -3.3% | -7.3% |

## Sources

- agnavigator.com: https://www.agnavigator.com/Article/2024/02/02/positive-shift-in-fishmeal-prices-for-2024/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.