Market Activity

The ruminant MBM market was mostly quiet today, but IL renderer product traded down to a range of $180 – 190. March meal prices were up today and settled just shy of $306. If protein were the sole determinant of price and SBM was the unit by which all would be measured, ruminant MBM should have a value of $318.75. With strong kills and fewer diets using MBM over the last several years, that relative price norm has shrunk well below protein parity. Prices should…