What is the feed pea benchmark?
The feed pea benchmark is intended to be used as apricing reference. This benchmark provides aconsistent and unbiased estimate of the feeding value of peas in the three regions shown.It is not expected that feed pea prices will converge to the benchmark value,but rather that feed peas will trade at various differentials to the benchmark based on local supply/demand, quality differences and other contract terms.
How is it calculated?
The feed pea benchmark is an estimate of the feeding value of drypeasin Western Canada, based on the value of competing feed ingredients in swine rations. Bi-weekly, tradableprices of the major feed ingredients are collected for the three regions shown above. These prices are then entered in to a least cost feed formulation that is typical for grower-finisher swine in Western Canada. A feeding value is then derived for feed peas based on their nutritional characteristics and the prices of the other competing feeding redients.The least cost feed formulation was developed in consultation with the Prairie Swine Center and the Feed Pea Network.In addition to the feed ingredients shown above, the feed formulation also includes canola oil, synthetic lysine, synthetic methionine, synthetic threonine, mono-dicalcium phosphate, limestone, salt, vitamins and minerals.
