Ruminant blood meal prices moved higher this week, but have stalled relative to the porcine blood meal market. Demand continues as production remains very tight, but the threat of reformulations have tempered the upside. The relative price to nearby soybean meal for the month of April is 327 percent, 66 points over the prior three year average. Since 2017, relative prices near the 340 percent market have initiated reformulations which have dramatically sent the market lower. In 2017, prices averaged 339 percent of the price of nearby soybean meal in February and March before falling to 285…
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...