year earlier during early 1966, but by June 

 ■were below: by $11 per ton. Prices for the 

 third quarter averaged 12 percent below the 

 1965 period. Little domestic meal was avail- 

 ablebefore June but, when it became available, 

 cost as much as Peruvian meal. During 

 June -September, menhaden meal was quoted 

 at $3-14 a ton above Peruvian fish meal at 

 New York City. Peruvian meal averaged 

 $152.25 per ton in September --compared to 

 $166.20 for menhaden meal. 



While prices of most important broiler 

 feed ingredients declined $3 to $9 per ton 

 from first to second quarter levels, soybean 

 meal advanced $7 per ton. Hot and dry weath- 

 er caused soybean crop prospects to weaken 

 and contributed to soybean meal price ad- 

 vances. However, weather improved in Au- 

 gust. The October U. S. Department of Agri- 

 culture Crop Report estimated the 1965-66 

 soybean crop at 927 million bushels, 8 per- 

 cent above the August estimate and 10 per- 

 cent above a year earlier. Soybean meal 

 prices dropped materially in September, 

 when the September Crop Report first indi- 

 cated a large soybean crop. Prices of most 

 other broiler protein feed ingredients de- 

 clined less significantly. 



Outlook 



World supplies of fish meal, fish solubles, 

 and fish oil in 1966 are expected to be about 

 as large as 1965, depending largely on Peru- 

 vian production in late 1966. The catch of 

 Peruvian anchovies during September is re- 

 ported almost 8 times the September 1965 

 figure, 



U. S. supplies of fish meal in 1966 were 

 expected to be larger than in 1965. Only 

 12,000 tons of fish meal production or im- 

 ports were needed in the last quarter to boost 

 U, S. supplies above a year earlier, January- 

 September 1966 supplies are only 2 percent 

 below the 1965 annual total. However, im- 

 ports of Peruvian meal may be down during 

 the last quarter. There is some indication 

 that a large part of the Peruvian industry 

 may be curtailing exports to raise prices. 

 On the other hand, if imports from other 

 countries continue at the rate of past months, 

 more inshipments can be expected from Can- 

 ada, Chile, and South Africa. 



As world demand for meat increases, both 

 U, S, and foreign demand for fish meal and 

 solubles as poultry and animal feed ingredi- 



ents will increase. The domestic broiler pro- 

 duction rate is expected to continue above 

 1965 during the third quarter of 1966. The 

 broiler industry appears able to maintain or 

 even exceed its recent production rate. This 

 is indicated by a 10-percent increase inchicks 

 placed on feed 7-14 months earlier for re- 

 placements in the U. S. broiler egg supply 

 flock. 



Soybean prices have fallen substantially 

 since the September 9 upward revision in the 

 1965-66 crop estimate. The low^r prices 

 have depressed prices of most other protein 

 feed ingredients. Further price declines are 

 likely among some ingredients before prices 

 firm. 



Supplies of fish oil for domestic consump- 

 tion and export probably will be down from a 

 year earlier because current season U. S. 

 production is not expected to add significant- 

 ly to inventories. (BCF Div. of Economics, 

 Branch of Current Economic Analysis, Indus- 

 trial Fishery Products Section, Nov, 2, 1966,) 



Shrimp Imports Rise 5.2% 



Imports of all shrimp (fresh, frozen, can- 

 ned, and dried) for January -September 1966 

 were 117,9 million pounds, compared with 

 112.1 million pounds in 1965 period--up 5.2 

 percent. Imports from Mexico totaled 38,2 

 million pounds, compared with 35,2 million 

 pounds in 1965 period --up 8,5 percent. 



Shrimp imports (fresh, frozen, canned, and 

 dried) in September 1966 were 15 million 

 pounds; they were 12.2 million pounds in 

 September 1965. September 1966 imports of 

 fresh or frozen heads -off shrimp (shells -on) 

 were 9,9 million pounds; peeled and deveined, 

 3.8 million pounds; frozen breaded (raw.or 

 cooked), 2,550 pounds; and other type si' (some 

 dried and canned) about 1.2 million pounds, 



Mexico shipped 4,4 million pounds (com- 

 pared with 3.7 million in September 1965): 

 3,1 million fresh or frozen heads -off shrimp 

 (shells -on); peeled and deveined 1,3 million; 

 and other types, 82,375 pou nds, 



l_/Iinports of "otlaer types" were peeled in airtight containers or 

 canned (217,946 pounds); cooked but not breaded (268,428 

 pounds); dried (15,872 pounds); and unspecified (736,292 

 pounds). 



