As production increases so does the risk for lower prices in the porcine MBM market. Pet food demand is beginning to slow, which should start to erode at the higher values in the market. Hog slaughter is up 25 percent relative to last week and as more confidence grows in the supply chain, so likely with the willingness of sellers to lower prices in an effort to keep supply moving, as seen today. At present porcine MBM out of the Missouri River market has a relative price to nearby soybean meal of 146 percent. At relative prices above 105 to 110 percent it’s reasonable…
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...