Market Activity

The market was very quiet to start the week. No changes were reported. International trade fears sparked a down day at the CME, July bean meal futures were off $5.30. Despite the lower numbers, MBM remains very well valued versus soybean meal.

The holiday break pushed hog slaughter down to 2.03 million head last week. Kills are forecast to pick back up to 2.28 million had this week, up 3.7% from the same week last year. Hog slaughter will trend lower over…