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…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...