Trading was quiet to finish the week and month with no changes reported. Negative price pressure remains in the market due to increased slaughter numbers. Ruminant MBM finished the month of May at a relative price to soybean meal of 96 percent, 28 points over the prior three year average. While 98 percent should be attractive to buyers on a basis of unit of protein, it’s reasonable to expect the increased production to regress values towards the mean in the coming weeks.

Figure 1.

Please contact…