Spot markets for grain continue to rise in value with the prices for dried, rolled barley costing in excess of £250/t this week.
The latest spot price for barley is a £30/t increase from late summer and over £50/t above its equivalent value 12 months ago.
Spot price for wheat is north of £260/t.
The upward trend in grain prices is likely to impact on ration prices, particularly for merchants that do not have adequate stocks bought on forward contract.
However, those with good levels of forward cover should be able to absorb the latest grain price rises.
Outside of wheat and barley, maize meal appears to have steadied with price reports at £275 to £280/t on farm. Some merchants indicate that a stable maize price should help to ease demand for barley and curtail further ration price increases.
Soya is also holding steady around £380/t on farm. However, soya hulls are extremely limited in availability with most price quotes available on application only.
Maize distillers cost around £275 to £280/t for bulk purchases with maize gluten close to £270/t. Sugar beet pulp is also priced around £270/t.
General purpose cattle and beef finishing rations are typically around the £270 to £275/t mark, although there are discounts available for early payment and bulk delivery.
Diary rations continue to cost in excess of £300/t with some 20% rations at £320/t, while lamb finisher rations are also in the region of £300/t.