Our domestic marketplace is thinly traded as we start 2020, but we did see feed consumers increase buying activity during Nov/Dec for early New Year positions. Due to the UK/EU stalemate feed mills had been generally reluctant to commit to raw material supplies, and were leaving it to the last minute to purchase stock. Now that we at least have some political clarity at Westminster, we can expect to see EU departure trade discussions accelerate. Whether certain topics/deadlines can be agreed upon or met during the year remains to be seen, so some volatility is assured.
Markets have remained under pressure this season due to the greater availability of both EU and third country feeding cereals and proteins, and it is a little difficult to see this cycle being broken since cargoes have already been brought into the UK.
Our advice continues to be to keep close to your buyer as there will be opportunities.
Spring cropping intentions are now more topical as the winter drilling window closes shortly – it would be useful to know your progress or plans to date.
