GRAIN MARKET REPORT 10th APRIL

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Domestic Market

Still no change in the domestic market with barley slow to move due to the import of maize and slowing feed demand. Barley that is moving has been sold at up to €190/t and wheat is moving easier at an average of €205/t. The situation is now critical due to the likelihood of a significant carryover of barley into the next harvest. Figures from Eurostat indicate that 156.000 tonnes of maize from non-EU sources were imported into Ireland this January alone. Canada, Russia and the Ukraine were the main sources for this maize which indicates that it went into the animal feed sector. This level of importation, when Irish barley is readily available is unacceptable and is posing serious questions for Ireland’s brand image particularly in relation to Origin Green. The latest green prices for green barley and wheat for 2019 harvest are €145/t and €155/t respectively.

Native/Import Dried Prices

Spot 10/04/19 April – Jun 2019 New Crop 2019
Wheat €203 – €206/t + €1/t per month €183-185
Barley €184 – €187/t + €1/t per month €173-175
FOB Creil Malting Barley €186/t July 2019
Oats €225
OSR €365 €370
Maize (Import) €180 €177 €177
Soya (Import) €330 €330

International Markets

Wheat markets were under pressure over the past number of days due to favourable crop reports and high ending stocks. Yesterday the USDA raised its estimate of US and world wheat supplies following poor export demand and a good harvest in Argentina. The monthly report upped its forecast of global 2018/19 wheat ending stocks to 275.61 million tonnes, topping the highest in a range of trade expectations. The report also indicated that the Winter wheat crop was now in an improved condition from the previous report. European markets although under pressure, have fared better as the strong export trade continues, helped by the weaker euro and the reduction in Russian exports.EU soft wheat exports are down only 4% on the previous year compared with 25% in February. Recent figures from France indicate that the barley acreage will increase by 17% this year which is up 3% on the 5 year average. This is related to the reduction in sugar beet which is down 6% and Rapeseed at 18% on last year’s plantings.

Corn (Maize) has come under renewed pressure as the USDA report indicated that carryover stocks in the US could remain high due to falling export, feed and ethanol demand. However, futures prices continue to receive support due to the potential of US/China trade talks and forecasts of further wet and cold weather for the main cropping states of the US Midwest.

The soybean market remains focused on the US/China talks and continue to trade in a narrow range which are at historic lows. In relation to rapeseed, French and German farmers have been forced to plough in 18,000 ha’s of the crop due to the presence of an unauthorised GM variety found in imported seed. This is ironic considering that the EU import millions of tonnes of GMO crops every year.

 

 

IFA has said that the publication of research by Teagasc and NUI Galway highlights the need to review the current approach to developing greenways.

National Environment Chairman Thomas Cooney said, “Recreational routes, such as greenways and blueways, have an important role to play in promoting agri-tourism and economic activity in rural areas. However, they will also have a significant impact on farming activity and rural communities. This is often ignored by councils, such as Kerry County Council, who plough ahead with greenway proposals, impose CPOs and ignore alternative routing options put forward by farmers.”

Thomas Cooney added, “This research highlights post-construction issues that remain unaddressed and ignored. This includes liability where recreational route users stray off designated routes, as well as concerns regarding potential for increased criminal activities, littering and general impact on farming operations.”

IFA has said an alternative approach is needed. Kerry County Council must end its legal threats on landowners and consider all alternatives presented, rather than imposing a predetermined route for the proposed South Kerry greenway.

There has been little change in the domestic potato market. Wholesale and peeling markets prices have stabilised following some selling pressure as growers tried to move on ambient store material. However, this ambient stock both here and abroad will have left the market by the end of the month. Planting has continued over the past number of days but only in a haphazard fashion and only on drier land.

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Sheep Factory Quotes c/kg including VAT
Factory April 09th Ewes Hoggets Spring Lamb
Dawn Ballyhaunis Tuesday
ICM Camolin Tuesday 270 530+10QA 630+10QA
ICM Navan Tuesday 270 530+10QA 630+10QA
Kepak Athleague Tuesday 280 535+10QA
Kildare Chilling Tuesday 290+10QA 550+15QA 640+10QA
Moyvalley Meats Tuesday 540 650

Speaking ahead of today’s National Dairy Committee meeting, Chairman Tom Phelan said the lobbying effort undertaken in recent days by IFA for March milk prices, which saw Committee members approach their local co-op board members with a 10-point campaign, would be revised today.

He said that further evidence of strong industry performance and figures showing significantly lower calf and cull cow sale revenues were further arguments proving that co-ops could, and should, hold the March milk price.

“We have outlined our “10 good reasons why co-ops must hold the March 2019 milk price”, and there are further factors which strengthen our case with co-op board members. I can’t emphasise enough just how critical cash flow is on dairy farms this time of year, and co-ops must maximise payout to farmers.,” Mr Phelan said.

“Confirming our contention that much appreciated supports to farmers during 2018 had not prevented a strong industry performance, the Ornua results were published, showing a 14.8% increase in operating profit. Ornua will be paying a €19m year-end operating bonus to member co-ops, up 27% on the previous year. This should help co-ops hold milk prices this spring,” he said.

“Also, as well as significant feed and fodder cost increases and lower milk prices squeezing margins by over 6c/l, dairy farmers are facing reduced revenue from cull cow and calf sales. Cull cow prices have collapsed 21.6% in the last 12 months, while calf prices are down 21.5% in the first quarter of 2019 compared with the same period last year,” he said.

“National Dairy Committee members will this week continue to discuss with the board members of their co-ops the need and justification for them to hold the March milk prices when they meet to make that decision in coming days,” he concluded.


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