Animal Protein Prices Steady, Soybean Meal Prices Higher

Animal Protein Prices Steady, Soybean Meal Prices Higher

Prices were steady across the protein market today. Soybean meal futures settled nearly $10 higher from yesterday’s close at $330.40 for the October contract today. Tight MBM supplies in the Australian and New Zealand markets combined with the stronger soybean meal market should start to drive prices for US origin MBM higher in the near term. Indications out of New Zealand into Indonesia were just under US$500 CIF/MT today, which would be supportive of domestic US values in the…

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