# Feed costs slide as corn and soybean meal ease; alternative proteins near highs

Template feed formulas are down about 1% on the week and 4-6% over four weeks as corn and soybean meal ease. Canola meal, sunflower meal, fishmeal and DDGS are near 52-week highs, which may limit substitution.

Published 2026-11-04 by the Feedsoft Markets Desk. Covers: CORN, SBM, CANMEAL, SUNMEAL, FISHMEAL, DDGS, HOGS.

Video (24s): https://feedsoft.ai/media/social/25/tiktok-d8e8cf9ed1.mp4

## Transcript

- **Feed costs are still sliding** Template feed formulas are down about 1% this week and 4-6% over four weeks, as corn and soybean meal ease.
- **Corn and soybean meal slipped** Corn fell 0.2% and soybean meal 0.5%. Those two moves drove the weekly drop in the broiler grower formula.
- **But proteins are the catch** Canola meal is up 24.7% on a year ago. Sunflower meal, fishmeal and DDGS also sit at or near 52-week highs.
- **Less room to swap** With those ingredients near the top of their annual ranges, substituting away from them may be limited.
- **Feed costs slid again this week** Template feed formulas are down about 1% on the week and 4-6% over four weeks.
- **Corn and soybean meal eased** Corn fell 0.2% and soybean meal 0.5%. For the broiler grower formula, those two drove the weekly move.
- **Canola meal is up 24.7% on the year** Canola meal is $402.99/t. Sunflower meal is $358.43, fishmeal $2,840 and DDGS $225.70. All are at or near 52-week highs.
- **Hogs sit at a 52-week low** Lean hogs are $62.78/cwt, down 26% on a year ago, with managed money at its most bearish in the data.
- **The takeaway: proteins are the pressure point** Cheaper corn and meal are pulling formulas down. Alternative proteins near annual highs mean substitution may be limited.

Full analysis: https://feedsoft.ai/brief/2026-11-04

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