More suspensions; Livestock and feed prices update; Hog futures rebound sharply

Another US beef exporter suspended due to feed additives

Prices of mid and late season rose slightly last week, up 13 yuan per ton to 2662 yuan per ton.

Customs announced that it had detected the feed additive ractopamine in another shipment of US beef. 

Customs announced that the shipment was from Golden Valley Industries and the company’s registration to ship to China has been suspended. 

This is the third US beef exporter to be suspended in the past month due to ractopamine and is the fifth company to be suspended in the past four months. 

Livestock and feed prices update

Edible oil futures spike amid supply uncertainty, hog futures rebound

Domestic futures for edible oil in China jumped on Wednesday as slow imports of soybeans from South America and the US, as well as the uncertainty of exports from the Black Sea stimulated supply concerns.

Palm oil and soybean oil futures on Dalian Commodity Exchange (DCE) rose more than 2% on the day, and rapeseed oil futures on Zhengzhou Commodity Exchange (ZCE) ticked about 1% higher.

Slow soybean imports into China have pushed cash soybean meal prices higher, which pushed cash oilseed prices higher as well.

ZCE rapeseed futures rose nearly 2% amid weak imports, pulling peanut futures to the upside.

However, futures for soybean and rapeseed meal softened due to bearish pressure from CBOT oilseed futures overnight.

As far as the protein sector, live hog futures on Dalian exchange jumped nearly 3% on the day due to short covering activities after heavy selling in recent trading sessions.