National Bureau of Statistics: From January to December 2025, the national feed production was 339.083 million tons, a year-on-year increase of 6.0%.

The year-on-year increase of 6.0% in feed production indicates strong demand for feed. As soybean meal is the main feed raw material, spot prices will be driven up by demand. In terms of futures, the main soybean meal contract 2605 closed at 2,766 RMB/ton, and the expectation of demand growth may boost market sentiment and push futures prices upward, with a significant overall bullish impact.

The 6.0% increase in feed demand directly benefits the spot price of rapeseed meal, as rapeseed meal is a key component of feed and the increased demand will push up the spot market. In terms of futures, the main contract for rapeseed meal, 2605, closed at 2,271 RMB/ton, and demand support may strengthen the stable upward trend of futures prices, presenting a positive and favorable market trend.

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