Salmon Meal and Salmon Oil : Market report 11 August 2015

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Posted on July 9, 2015
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Salmon Meal

Markets still influenced by holiday, and the fact that most purchases for August and September were already concluded prior to the vacation. Undercurrent news reported earlier this summer that Chilean producers plan to reduce the production of salmon by 15 % (abt. 120.000 tons) over the next two years. One consequence from this is lower production of salmon meal and oil the coming years.

Falling volumes of Norwegian salmon slaughtered the last weeks, and the outlook is for lower slaughtering the coming weeks. We saw good volumes slaughtered first half 2015, however the cold summer has not given the optimal growth and there is less salmon in the sea. Additionally the size of the salmon is small. I.e. a lower production of salmon meal and oil the coming weeks.

There is a stronger indication that we will have an El Nino, this link from NASA:
http://earthobservatory.nasa.gov/IOTD/view.php?id=86341 and Accuweather: http://www.accuweather.com/en/weather-news/el-nino-to-be-one-of-strongest/50081969

And, the potential El Nino is now having practical consequences. The draft restriction at the Panama Channel is reduced (the same happened in 1997/98):http://www.cbc.ca/news/world/el-nino-drought-spurs-new-cargo-limits-in-panama-canal-1.3184328

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