Soybean meal prices in China fell by more than 14% in a month
According to SunSirs, a China commodity market analysis system, soybean meal prices in China fell by more than 14% in May. On May 1, the average market price of soybean meal was 3,476 yuan/ton, and on May 28, the average market price of soybean meal was 2,966 yuan/ton, down 14.69%.
After the May holidays, soybean imports to ports resumed, and with the introduction of tariff declarations, the soybean futures market began to decline. Feed producers made purchases cautiously and as needed. The domestic soybean meal spot market also declined. As of May 20, the average spot price of soybean meal fell below 3,000 yuan, down nearly 15%.
As of May 28, the average market price of soybean meal was 2966 yuan/ton, down 3.58% from the middle of the month.
Analysts point out that weak demand for finished feed and shortage of raw materials will continue to lead to a weak soybean meal market in the future.
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