Market Activity

MBM prices, both porcine and ruminant, moved lower on an FOB basis today. Porcine trading was sharply lower while ruminant trading moved down $5 from the previous high out of the Mo. River and Panhandle markets. Sellers had been hoping to hold prices steady through the holiday, but the current strong production as well as the strong production coming after the break has pushed sellers to get ahead of the drop. Fundamentally, the market shouldn’t be breaking lower…