Feed Production & Corn Supply in July

By CnAgri2013-08-28 11:09:14 Print Feed production was 16.572 million MT in July and 114.78 million MT in January ~ July, down 11.9% and 11.4% respectively on the year-on-year basis.
 
Compound feed production was 11.365 million MT in July and 62.15 million MT in January ~ July, up 5.35% and 11.16% respectively on the year-on-year basis.
 
Condensed feed production was 4.81 million MT in July and 32.425 million MT in January ~ July, up 8.93% and 9.41% respectively on the year-on-year basis.
 
Premixed feed production was 397,000 MT in July, a slip of 11.4% on the year-on-year basis.
 
7.047 million MT corn was consumed by medium and large compound feed mills and 11.424 million MT by mills of various scales in July. Compound feed mills’ capacity utilization was 47.47% in July.
 
Other feed ingredient supply included 7.919 million MT oilseed meal, 2.214 million MT bran and wheat middling, 1.55 million MT rice husk and broken rice, 1.55 million MT corn bran and protein powder, 80,000 MT beer dregs and 2.503 million MT low-grade flour and rice.
 
Corn consumption for various uses was 18.637 million MT in July. Corn inventory was 65.37 million MT at the end of July, suggesting a stock/consumption ratio of 3.52.
 
Corn inventory in July consisted of 31.573 million MT state reserve, 11.399 million MT corn-processing factories’ stock, 7.75 million MT feed mills’ stock, 6 million MT traders’ stock and 8.942 million MT on-farm stock.
 
Wheat price was RMB2,391/MT in July and RMB2,407/MT between August of 2012 and July of 2013, down 2.25% but up 0.71% respectively on the year-on-year basis.
 
Planted corn acreage is predicted to be 36.38 million hectares this year, 3.29% more than last year. Corn production is predicted to be 216 million MT this year. Corn imports are predicted to stay high because of the wide price gap. Corn price is anticipated to be squeezed by ample supply in 2013/2014.




From “China Grains Market Weekly Report”