Demand for soybean meal in China is declining

Global soybean prices are volatile, supporting soybean meal prices in China. However, market headwinds remain, with the livestock industry suffering prolonged losses that are reducing feed demand, according to SunSirs, a Chinese national center.

The Chinese market is facing mixed signals: lower harvest forecasts in the US and Brazil, as well as active Chinese soybean purchases from the US, have pushed up prices on the Chicago Board of Trade (CBOT). However, high prices for US soybeans have dampened domestic demand, and traders fear China may switch to cheaper Brazilian soybeans.

Despite the seasonal peak in livestock demand, the industry is unable to sustain sustained growth in meal prices over the long term. Pig farming has remained unprofitable for four months now, and poultry farming is teetering on the brink of profitability, according to analysts. This is forcing farms to economize and reduce the share of soybean meal in their rations, curbing processors’ ambitions to raise prices.

At the end of the month, the domestic base price for soybean meal in China was CNY 3,070.00 per ton, up only 0.79% compared to the beginning of the month.

According to OleoScope, on November 21, 2025, the price of soybean meal (Daylian China) for November delivery was $423.27 per ton, down $0.42 per ton from the previous value of $423.69 per ton on November 20, 2025. This is the lowest price in a week.

Tags: soybean meal, China