The non-GMO feed business should be experiencing higher levels of sales during the 2019/2020 season according to the Jacobsen insight. The Jacobsen non-GMO protein index will rise in September driven by an expected increase in sales values which should increase by 25% in September, with most of the change due to seasonal factors. The 3-month moving average is expected to rise 1% year over year for the month of September. This should continue to buoy non-GMO corn prices and non-GMO soybean prices.
The index is approximately 50% broiler and layer demand and 50% dairy demand. The dairy index is broken down into milk, cheese and butter. The non-GMO protein index is expected to climb 10% year over year for the 12-months ending September 2019. The driving force behind the rise in demand is within the dairy space as well as layers. Non-GMO butter sales are expected to increase 22% year over year according to the Jacobsen insight, while non-GMO egg sales are expected to climb 10% year over year for the 12-months ending in September.