Porcine MBM traded sharply higher today, topping out at $310 in the Midwestern markets and $320 in the Carolinas and Indiana. At an average price of $285 FOB, the relative price to nearby soybean meal is 80 percent. The prior three year average for October is 73 percent, which suggests that prices are at risk for hitting the ceiling in the near term. The added production from increased slaughter adds additional risk for the price rally to stall in the near term. Export demand has been strong, and the…
11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...