Market Activity

The market was very quiet today with many en route to Atlanta for the IPPE and those in the office scratching their heads in an effort to make sense of the macro markets. SBM was down $8 at the CME today, with nearby futures settling at $334. Even with the drop at the CME and the higher prices on Friday, MBM is still well valued on a protein basis.

Weekly averages were up again last week. Big volume seen at the $300 mark late in the week on ruminant MBM…