NEWS

Fibre and Forage report 7-Feb-14

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Friday, February 07, 2014

Australian Dollar USD0.898
Corn USD4.45 per bushel on Chicago Board of Trade Futures
Dry and hot weather in many growing regions of Australia has seen Cottonseed prices surge and related by products also. Feed in general is at a premium in Australia and the only thing dampening demand in world prices is the massive Soybean and Corn crop being harvested currently in South America. Cottonseed( CSD ) trading at USD500mt ex gin for Australian new crop April/ May / June position.
Lucerne Hay is trading close to USD400mt fob Aussie main ports and rising due to drought. Export is not viable or possible due to these levels.
All filler ( fibre) products are stronger since December last year and will continue to firm in price the longer we don't get rain. CSD Hull pellets being offered at USD250mt Fob main Australian ports which is not workable for export mkt. Reflects the domestic demand situation in Queensland and parts of NSW which desperate for any animal feed.
Outlook strong on all Fibre and Forage. Californian drought doesn't appear to be breaking any time soon and so keeping world CSD at elevated levels. Corn and Wheat seem to have bottomed out and are ready for a run. CSD harvest begins in Australia next month( early this year) but don't expect this to dampen demand or prices which will remain strong without rain.

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