In January 2026, the domestic market for rapeseed meal observed a trend of "fluctuating downward with subsequent recovery at a low level." The average market price of rapeseed meal on January 1 was 2471 yuan/ton, and on January 29, it was 2630 yuan/ton, which is 6.41% higher than the previous year. From the supply side: a short-term deficit, a long-term shortage of supply. In January, the load of oil mills remained low, and the processing volumes of rapeseed were insufficient, which supported prices due to the supply deficit in the spot market. The easing of trade relations between China and Canada led to an increase in the volume of rapeseed imports in the long term, which suppressed the potential for growth in the prices of rapeseed meal. As for demand: the off-season continues, and inventories are insufficient. Aquaculture is in the off-season, in winter, and feed mills mainly consume inventories; as the Spring Festival approaches, enterprises in related industries gradually shut down.