MBM prices moved higher today on continued tight supply, ruminant prices are a “no-quote” from a couple of producers with material being used internally and production limited to a point where spot material is unavailable. Porcine trading was higher and there were price offer indications as high as $700 FOB into the pet food sector. Formulation constraints in a tight market are driving the prices to record spreads to soybean meal.
Feathermeal prices have moved higher this week, but on a per unit of protein basis remain underpriced relative to other animal protein alternatives. The prior three year average premim for Carolinas FM to Eastern MBM is $94, today that spread is a discount of $7.50. With the tight overall market, it’s reasonable to expect feathermeal prices to move higher as the market moves into May.
Figure 1.
…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...