Market Activity

MBM prices were mostly steady today purely due to a lack of activity. A number of producers are keeping production in house, thus limiting spot transactions. Porcine MBM is trading a multi-tiered market based on location and specifications. Sales into the pet food sector continue at a higher price than the feed buyers, but demand has started to fall at the high prices. Both species of MBM are at risk for lower prices once supply starts to loosen up as high relative prices to soybean meal push…