Meat and bone meal prices moved lower today with additional supply adding downward pressure to the market. Hog slaughter is up 40 percent relative to three weeks ago and cattle slaughter is up 32 percent relative to three weeks ago. At porcine prices below $300 FOB, sellers should start to attract more demand from the buy side for the June position/formulations, but broad appeal is likely to consolidate towards the lower end of the range for both porcine and ruminant material. Porcine and ruminant ellers with…
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...