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Nitrogen fertiliser prices are down £15 to £20/t from quotes issued in late April with CAN now trading around the £290/t mark.
However, reports indicate deals are being made around £283 to £285/t for bigger volumes purchased and where full payment is made within 30 days of delivery.
The latest prices for CAN are down £30 to £40/t from early spring quotes and close to £100/t below straight nitrogen prices back in May 2023.
The alternative to CAN is protected urea and it is currently trading in the region of £430 to £440/t, although merchants are generally carrying limited stocks as buying interest is low.
Compounds
Compound fertilisers are down £30/t from quotes at the end of April. Products such as 25-5-5 are now trading around £350/t compared to the £380/t from late last month.
Where farmers are purchasing fertiliser for second-cut silage, the advice is to make full use of slurry reserves.
For grassland at soil index 2+ for phosphorous (P) and potash (K), there is a nutrient requirement of 25kg/ha P and 60kg/ha of K, equating to 20 units and 48 units on a per-acre basis.
Every 1,000gals/acre of cattle slurry will supply 9 units of nitrogen, 11 units of P and 20 units of K, so 2,500 gals/acre of slurry and CAN will suffice for second-cut silage at the outlined soil indices.
Rations
Meanwhile, livestock ration prices look set to hold at current levels going into June as cereal prices continue to edge upwards.
That keeps 16% general purpose cattle rations around £270/t with dairy products trading from £280 to £300/t depending on protein content.
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