Soybean meal prices increased by 39% year-on-year in the end of August 2012

On August 27, 2012, the national average factory price of soybean meal was 4,572 yuan/ton, an increase of 39% year-on-year. It is expected that the decrease in the number of imported soybeans in the third quarter will lead to a decrease in the overall operating rate of the oil mills, coupled with the expected rigid demand for domestic feed, which will support the spot price of soybean meal. BOABC expects that soybean meal prices will remain high and continue strong. .

1. It is expected that in August China's imports of soybeans will reach about 460-4.8 million tons in Hong Kong, and that in September will be 3.8-4.0 million tons. In October, the import volume will be about 3.8 million tons, which will show a gradual decline as a whole; The continuous decline in the amount of soybeans to Hong Kong, the domestic oil plant's operating rate will continue to decline, the current operating rate of the various oil plants in Shandong is only maintained at about 35%, also led to a substantial decline in the level of its soybean meal stocks, therefore, the oil plant The will of soybean meal is firm.

2. The scale of China's aquaculture industry is relatively large, and the aquaculture industry before the Mid-Autumn Festival and the National Day and other traditional festivals are ready. The demand for soybean meal is relatively strong. Take pig farming as an example. According to the monthly monitoring data of live pigs released by the Ministry of Agriculture, the total inventory of monthly monitoring sites in January and July 2012 was higher than that of the same period of last year and the same period of the previous year, among which the amount of livestock in July was It was flat at 46.14 million in June, but it increased by 720,000 from the same period last year.

3. At present, there is a very limited space for the adjustment of the proportion of soybean meal in medium, small and medium-sized feed enterprises. It is reported that the 8% increase in the amount of soybean meal in the feed of broilers leads to an increase in the ratio of feed to meat, a decrease in feed intake, and a low digestibility. The feed companies are encouraged to increase the soy meal formulation, so the demand for soy meal may increase from the soy bean meal formulation.