Hopes for further feed price fall in the summer

Livestock concentrate feed prices have come back about 12% since last August, but sources in the milling industry warn feed prices could stay near current levels until south American soya bean meal is expected at ports in June.

With some trade signals that fertiliser prices will remain firm for the coming season, farmers may see less relief than expected from the high input expenditure in all grassland-based enterprises in 2013, which was driven by extra feed use, high feed prices and extra fertiliser applications.

Teagasc had forecast a feed price decline of 10% in 2014 relative to 2013 — which now seems reasonably accurate.