Ruminant MBM sellers are benefitting from tight kills and a short week. Trading was reported at $385 – 390 FOB Mo. River this afternoon. Trading out of the Panhandle was reported as high as $390 FOB. Trading into the Eastern market was up $10, $455 delivered. Sources on the buy side are suggesting reformulations are nigh with MBM pushing 120% to cash SBM.
Figure 1.
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