Porcine MBM prices moved sharply lower today. The increased production is meeting a market that has less of an appetite for MBM due to cheaper soybean meal and reformulations already in place of May. Cheaper prices have historically been the norm for May with values increasing relative to April at twice in the last ten years and not once in the last five. The average price move in May relative to April over the last five years is a drop of $10.94. June has historically brought higher prices to the market with prices higher relative to May in three of the last five years. The higher prices this year are likely to wash out an potential increases in June relative to the May average…
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...