Trading was lower on ruminant MBM today as cheaper mixed species material and increased production combine to driver the entire market lower. It is reasonable to expect the topside of the porcine MBM market to fall this week as trading for producer porcine material is trading in the mid-$200’s. Ruminant MBM traded at an average of 97 percent of the price of nearby soybean meal in May, up 29 points compared to the prior three year average. With more production coming online there is risk for prices to regress towards the prior three year…
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...