PROBLEM TO BE SOLVED: To provide a skim milk substitute whose anti-nutritive ingredients such as the antigenicity of defatted soybeans has been reduced, and which is excellent in digestibility and palatability and is high in safety.SOLUTION: The feed material is characterized by being obtained by adding a carbohydrate solution to defatted soybeans to give a carbohydrate content of 7 to 24 wt.% and then subjecting the mixture to a heating pressuring kneading treatment, wherein antigenicity is ≤100 U/10 mg, and high digestibility is ≤30% as neutral detergent insoluble protein.