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Feed mills across NI look set to leave ration prices unchanged for November.
Beef finishing rations are priced between £285 and £290/t for blends with a 50% maize content.
General purpose cattle rations at 15% to 16% protein content are trading between £280 and £295/t depending on rate of soya inclusion.
Dairy rations start around £325 to £330/t for 18% protein products and rise towards £350/t as protein content increases to 20%.
Soya
Soya continues to rise in price with the latest price quotes on spot markets in the region of £500/t, up £11 on the previous week.
Factoring in a handling charge, transport and margin, soya purchased on spot markets this week would cost between £530 and £540/t on farm.
Longer term, market analysts still expect soya prices to fall this winter due to a potential bumper harvest. As a result, many local feed mills are reluctant to lock-in to forward purchasing contracts for soya.
However, the downside is that without forward purchasing, local mills have to source soya on spot markets, which is blocking any prospect for lower feed prices.
Cashflow
With feed prices remaining high, it is adding to cash flow pressures on farm. Merchants indicate more and more customers are requesting an extension to credit facilities to keep businesses operational.
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