While organic corn prices and organic wheat prices remain subdued, the whipsaw price action in organic soybean meal prices expresses concern. There are few organic soybeans around ahead of the 2020/2021 harvest. Prices are hovering near the $21.50 per bushel level in Pennsylvania. Organic soybean meal prices are also getting elevated. Prices no longer appear to have 7-handle in front of them. The Jacobsen has seen prices offered from 800-860 per short-ton for Q3 between the Midwest and PA.
The cheese market has been on a tear, as conventional prices spiked to all-time highs (CME futures) last week. The runup was due to the surge in restocking. The conventional space is likely to ease as the decline in restaurant demand likely outweighs the rise in retail demand. With cheesemakers running at full capacity, prices will likely peak now that inventories are restocked.
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12.27.2024
US RD, SAF supplies remain strong despite declining import volumes
US supplies of sustainable aviation fuel (SAF) fell sharply in November but reached the highest November volume on record, according to data released on Thursday December 26 by the...
12.27.2024
Animal fats and oils end week steady amid holiday-limited trades
The US animal fats and oils markets held steady on Friday December 27, with limited trades persisting due to the holiday season.
Weekly averages were unchanged from the prior week...
12.27.2024
Relative prices of US meat and bonemeal rise amid depressed soybean meal market: 2024 recap
US animal protein prices were steady to lower on Friday December 27. Some participants reported distressed loads in the market late in the afternoon of Thursday December 26 and...