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IFFO reported that Peru's second anchovy season in the North-Centre closed on 13 January 2024 with about 75% of its 1.682 million ton quota landed. Global fishmeal output for the first 11 months of 2023 fell about 16% year on year, mainly due to a 41% drop in Peru after the first season was cancelled.
Tighter fishmeal supply from Peru's weak season supports fishmeal prices, which lifts the cost of protein for feed buyers and supports substitute meals like soybean meal.
iffo.comJan 12, 2024Not enough comparable past events yet for a historical read.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
