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Article: Blood meal restrictions, avian flu push corn, soybean futures lower.(Grains And Ingredients)
- Article from:
- Feedstuffs
- Article date:
- February 2, 2004
- Author:
CopyrightCOPYRIGHT 2004 Miller Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Feed grain and oilseed futures all tumbled last week as the bullish optimism of recent weeks hit a roadblock.
"It was probably a long overdue correction due to a lot of different things," said Brian Basting, grain market analyst for Advance Trading, Bloomington, Ill.
Factors include:
* An outbreak of avian influenza that caused the slaughter of millions of poultry in 10 Asian countries in an attempt to contain the virus (story, p. 1). This threatens to weaken demand for soybean meal and corn.
* Last Monday's announcement that the Food & Drug Administration will restrict the feeding of ruminant blood meal, poultry litter and leftovers ...