Ruminant and porcine meat and bone meal prices moved lower today. Continued increases in production is adding downward pressure to the market. Material that can be exported is trading at a premium to the printed range.

Feathermeal prices have moved lower this week despite a favorable relative price to soybean meal. The relative price to soybean meal out of the Midsouth market for May is 116%, 12 points under the prior three year average. Today’s average price of $300 equates to 105% of the price of nearby soybean meal or 27 points under the…