Feed output in April was 29.9 million tons, down 2.8% compared to March, but up 2.4% year on year.
It’s relatively unusual to see feed output decline from March to April, with the last example of this being 2022. However, the March data was very strong, with feed output rising 10.2% year on year.
Soybean meal inclusions fell slightly to 12.8%, but it’s still notable that this was higher than April 2023, which was 12.5%, and shows the difficulties with the Ministry of Agriculture’s forecasts for ...