Ruminant meat and bone meal prices traded lower on the top end of the range today. Strong supply continues to pressure the market lower. Pure beef, packer material has been reported in the $180 – 200 range to close out the week. Fundamentals suggest that prices are near a bottom with protein well valued versus soybean meal and seasonality indicating higher prices. However, fundamentals have been scrambled by COVID-19 and an atypical slaughter pattern is likely to keep prices lower than history would suggest. A resurgence in infections in some states adds risk for supply disruptions, however, and buyers may be incentivized to rebuild or build pipelines of material ahead of any issues, especially while prices are low.
Figure 1.
12.24.2024
Animal fats, oils markets quiet amid Christmas holiday
The US animal fats and oils markets remained steady on Tuesday December 24, amid limited trading due to the Christmas holidays.
Market sources expected activity to remain subdued...
12.24.2024
US November broiler, turkey slaughter down year on year
US animal protein prices were steady on Tuesday December 24, with limited volumes reported to have been traded. With the proximity of the end-of-year holidays, most market participants are...
12.24.2024
US weekly soybean, wheat export inspections rise, corn falls
Weekly export inspections
Export inspections of US grains showed a decline for corn but an increase for soybean and wheat in the week to December 19, according to data...