Animal Proteins

Ruminant MBM was mostly flat today, but trading did move higher out of the Mo. River market. Texas panhandle action was lower, with mixed species material trading as low as $175. The fundamentals suggest that ruminant MBM is due for a correction to the upside in February, after finishing January at a relative price of 66% to nearby soybean meal. The prior three-year average for February is 68%. However, strong cattle kills and a…