Commodities Report (14/03)

Since my last report in December 2022 the pound has remained relatively stable against the dollar, today 1GBP=$1.21567.  Against the Euro, the pound fell to 1GBP=1.11447 during the first week of February. Since then it has been volatile but today  (14/03) is 1GBP=1.1497.

The GDT has been volatile over the past three months. Skim milk powder peaked in March 2022, however in recent months has stabilised. Cheddar prices have seen falls in the recent GDT, after a six-month period of stability. 

Brent Crude has fluctuated since December, today’s price is $79.22/barrel.

Milk Powder
Following peaks in Q3 of 2022, the milk powder price has dropped back over the past couple of months.  We have seen some of our powders drop more than £400/tonne, with indications that the price for Q2 to remain stable.

Fertiliser
CF are offering new terms for April with a £5/t increase on March terms. Imported AN is struggling to compete with UK Nitram.

Urea prices have dropped back considerably to levels last seen in September 2021 and is 80% cheaper than Q4 of last year.

Urea + Sulphurs (unprotected or protected) is the credible & cheaper alternative to the ANS products which are in short supply.

Phosphate prices have started to stable after the recent fall in Q1 2023. MOP stocks are running low as importers are emptying their stores for the Autumn season – therefore the UK MOP price is stable.

Feed  
The market remains volatile, with prices easing back over the past week for all. Wheat £216/tonne. Barley £200/tonne. Hipro Soya £540/tonne. Rapemeal £339/tonne.

We are in the process of finishing off purchasing the ingredients for the concentrate book and will be able to release prices shortly ready for 1^st May 2023.  Whilst we can’t say exactly how much the price will be down on this winter.

Seed
We have prices for grass, environmental and game seed available.  If you would like a brochure and prices, or for us to visit you with our Seed Specialist to discuss spring re-seeding, please do not hesitate to contact me.

We have limited varieties of maize seed available.  When selecting seed, it is important that you choose the right variety for your soil type and that it is listed on the MGA recommended seed list.  We also have our maize starter fertiliser MaxiMaize available which is similar to DAP.

Silage Sheets & Additives
By the time you read this we would have released our silage sheet prices for the year, for both members and non-members.  Again, this year we will be supplying Visqueen sheets as our main sheet, along with Clingfilm, however we can also supply Secure Covers and the full range of Silostop products.

For up to date prices please contact Louise on 07943 684215 or e-mail louise@dblbuyinggroup.co.uk