Analysis Feed

Feed prices continue to decline, bottom now in sight

May 7, 2024 - Wouter Baan

The feed prices have been declining for over a year and a half now, and in April, the trend was clearly downward. However, the end of the persistent downward trend seems to be in sight.

The price of A-feed decreased by €5.50 last month to €305 per ton, the lowest level since early 2022. Pig feed went down by €6.50 to €292 per ton. The prices of other pig and cattle feeds also decreased, according to data from Wageningen Economic Research (WUR).

For the 21st consecutive month, there has been a downward trend. Never before has a downward trend lasted this long since WUR (and previously LEI) started tracking prices in 2003. It should be noted that this followed a record surge due to the Russian invasion of Ukraine. Meanwhile, prices are back at the 'old levels,' raising the question of how long the downward trend will continue.

Feed Price Indicator
The feed price indicator from Boerenbusiness predicts that the price decline of pig feed will continue briefly, until around mid-July. The prices of cattle feeds may continue to decline for a while longer. The wheat price on the Matif has been hovering around €210 per ton since mid-April. Physical wheat prices have been on the rise since March. In recent months, a premium had to be paid for corn compared to wheat, but that is no longer the case. Additionally, the soybean price is also rising as part of the harvest has been lost in the water.

Regarding the price developments in the commodity markets, much will also depend on the weather in the key grain-growing regions in the coming period, as the markets are increasingly weather-driven. There is also anticipation for the WASDE report scheduled for this Friday (May 10).


Wouter Baan

Wouter Baan is the editor-in-chief of Farmerbusiness and a market specialist in dairy, pork, and meat at DCA Market Intelligence. He also tracks developments within the agribusiness sector and conducts interviews with CEOs and policymakers.
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