Feed mills in NI are set to apply price cuts to livestock rations which will allow £6 to £8/t to come off price lists.

Whilst markets for both grains and proteins have eased in recent months, the full extent of price cuts for livestock rations has been limited by the rising cost of higher fibre feeds.

For example, the price of soya hulls is up £25/t in recent weeks and is now costing between £195 to £205/t delivered on farm. Similarly, sugar beet is up £20/t to £215/t.

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That said, markets for other key straights have softened considerably and there could be scope for more feed price cuts in coming months if markets remain settled.

In particular, soya has fallen £40/t since early summer and is costing around £300/t.

Likewise, rolled barley is £212 to £220/t delivered on farm.

Feed prices

In terms of feed prices, a typical dairy ration with supplements and buffers is costing £300/t to £305/t and lower spec rations are available for around £290/t.

Prices for beef rations also depend on ingredients and supplements, but a typical mix is now being quoted at £250 to £255/t. Lamb pellets are around £305/t.