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Soybean Meal Price Indicator

Soybean meal is an economic indicator that measures the international trading price of a by-product remaining after extracting oil from soybeans. The unit is expressed as US dollars per metric ton ($/mt), and it is primarily traded on the Chicago Board of Trade (CBOT). Soybean meal, as a high-protein feed, is widely used in the livestock industry as feed for livestock and farmed fish.

There are multiple reasons why this indicator is important. First, soybean meal prices directly affect the production costs of meat and other animal-based foods, ultimately influencing overall food prices. Second, soybeans are globally important agricultural commodities, and price fluctuations in their by-product, soybean meal, serve as an indicator reflecting global agricultural economics and food security. Third, the livestock industry is a growing industry globally, and increasing demand, particularly in emerging markets, significantly influences price fluctuations.

As a general trend, soybean meal prices tend to move in correlation with crude oil prices and other feed prices such as corn. Additionally, weather conditions and harvest volume fluctuations in major producing countries such as Brazil and Argentina significantly affect prices. In recent years, geopolitical factors such as increased feed demand due to China's pork production recovery and the spread of African swine fever have become important points in price fluctuations. For investors and traders, this indicator is closely monitored as an important leading indicator of commodity markets.