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UK poultry feed spot prices reached a five-year high after feed wheat and soymeal rose sharply, with current formulation costs up £30/t to £258/t by end-September. UK feed wheat hit £179/t, a seven-year high, as the UK wheat crop is estimated down nearly 40% from last year.
A smaller UK wheat crop and firmer soymeal and global maize prices raise feed costs for UK compounders, with forward buying cushioning the near-term impact but the outlook worsening.
poultry.networkKen RandallOct 8, 2020After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
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.
