Feed mills in NI have revised price lists upwards by £15-20/t for October, in response to the rising cost of straights.

Feed reps state that geopolitical disorder on numerous fronts has injected a high degree of turbulence into global grain markets over recent months.

Issues range from Black Sea shipping routes due to the Russia-Ukraine war, to the ongoing conflict in the Middle East, and combative trade policies from the USA.

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“Unless things drastically change, feed prices will have to get another lift either at the end of the year or in early January,” said a source in the feed trade.

The exact price rise by mills this time round depends on their forward buying cover for key straights and how much they added back in May, when up to £20/t was put on to price lists.

While prices for different rations depend on ingredients, a typical 18% crude protein dairy nut with buffers and fat supplements is now costing between £335 and 350/t.

Higher-spec dairy nuts are costing over £360 and dairy blends tend to start from £330/t.

Beef finisher rations are priced around £290/t and general-purpose beef nuts are costing slightly more at around £300/t.

High-maize lamb finisher pellets are around £335-345/t, with lower spec options available for under £330/t.

Defending the price rises, feed reps point to the increased cost of key straights over recent months.

Soya is up £60/t and is now costing well over £400/t after delivery costs are included.

Likewise, cereal grains are up £30/t. Wheat is now costing £260/t after processing and transport charges, with maize coming in at £265 to 270/t.

High energy and transport costs are also eating into margins.