China’s Spot Soymeal Prices Jump to Record in Sign of Shortage
- The rally could boost feed costs and keep pork prices elevated
- Supplies from Argentina and US are coming but will take time
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China is facing a soybean meal shortage, at least in the short term, with prices of the feed ingredient soaring to a record in some provinces.
Spot prices have jumped as much as 10% this week in the main processing hubs of Guangdong and Shandong, according to data from Shanghai JC Intelligence Co. The rally could drive up feed costs for hog farmers and spur a further run-up in pork prices that Beijing is trying to cool amid inflation risks.