The relative prices expressed in US$ per short ton for corn, soybeans and soybean meal, December delivery, were downloaded from the Dalian Commodity Exchange website reflecting major contracts at close of trading on October 15th. These values were compared with the spot price at noon on the CME indicated in parentheses.
|
Commodity
|
Dalian CE
|
52-week range
|
CME 09/02
|
|
Corn
|
$345*
|
$257-$349
|
($144)
|
|
Soybeans
|
$609*
|
$496-$623
|
($354)
|
|
Soybean Meal
|
$433*
|
$358-$443
|
($371)
|
* short ton with exchange rate CNY 6.7=US$1
It is evident that due to the higher price of feed, producers of hogs, eggs and conventional broilers in China are at a disadvantage in production cost compared to their counterparts in the U.S. and Brazil.
Large eggs (57g) traded on the Dalian exchange at 33 cents per dozen.