Most feed mills have not applied any further price increases from 1 January, despite a recent surge in the cost of soya.

Spot prices for soya have increased by £50/t to £60/t from late December, leaving the product at £430/t to £440/t on farm this week.

However, the majority of merchants have purchased soya on forward contracts through to April, so they are well insulated from the price rise.

Other key straights such as barley have steadied after big increases in the second half of 2021.

Price quotes are currently around £280/t on farm.

Maize meal is priced at similar levels. Discounts are available on bulk purchases.

Soya hulls are extremely limited

The rise in soya price has had little impact on alternative proteins, with distillers holding around the £290/t mark.

Soya hulls are extremely limited, with many merchants unable to source the product and stocking sugar beet pulp instead, which is trading around £275-£280/t.

Beef finishing rations are holding steady at £275-£285/t, with general-purpose cattle rations costing £275-£295/t depending on the ingredients used.

Dairy rations continue to be priced around the £300-£320/t mark depending on protein content, with sheep rations at £300-£315/t, although some blends without soya can be purchased below £300/t.

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