Feed prices causing enormous problems

THE European Commission has acknowledged “enormous problems” for livestock farmers because animal feed prices are so high, and has moved to loosen import restrictions on fed grains.

EU markets hit all-time high prices for wheat last week, after the US government slashed its estimate of maize stocks by 9%, to their lowest level in 15 years.

In response to tightening domestic markets and skyrocketing prices, the European Commission has proposed suspending import duties on feed grain.