Soybean meal records decline
Agrolink – Seane Lennon
Published on 03/28/2024 at 5:11 pm.
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The price of milk paid to producers in Mato Grosso recorded an increase in February 2024, with an average of R$1.93 per liter, representing an increase of 5.19% compared to December 2023. This increase was mainly driven by due to the reduction in milk collection in the state, according to data from the Mato Grosso Institute of Agricultural Economics (Imea).
On the other hand, soybean meal fell 5.63% in February 2024, being quoted at R$1,736.88 per ton compared to January of the same year. This reduction was the result of weakened internal demand and greater supply due to the advance of the raw material harvest, in addition to the drop in external prices due to the expectation of greater supply from Argentina.
With this market dynamic, the dairy farmer’s purchasing power in relation to soybean meal improved in February 2024. Thus, the dairy farmer needed 889.77 liters of milk to purchase one ton of the input, which represents a reduction of 10.29% compared to January 2024. This result is the lowest recorded in the state since May 2023 and the lowest for the month of February since 2017 in the Mato Grosso market.
