Supply Tightening Boosting Nearby Prices

Ruminant MBM prices were up today on tight, nearby supply. Demand continues with buyers looking for longer term commitments in the face of rising prices. Four US beef plants are currently idled with another three having reported COVID-19 cases. The current capacity of the idled plants is 9,500 head per day. With slaughter estimated at 99,000 head today, one can clearly see idled plants and reduced shifts are tightening supply. At current…