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Spot cottonseed for prompt delivery to southern Queensland feedlots is quoted at $720 per tonne, up from about $600/t in August. Strong Chinese export demand, with nearly 500,000 tonnes shipped year to date, and grazier demand in NSW and Queensland have tightened seed stocks.
Feedlots are switching part of their rations to canola meal until new-crop cottonseed arrives.
Tight current-crop supply and export pull keep cottonseed firm, and the premium over new-crop values makes it less competitive for feedlot rations. Buyers may substitute canola meal in the meantime.
beefcentral.comLiz WellsNov 10, 2023
graincentral.comLiz WellsNov 9, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
