Meat and bone meal (MBM) prices are steady to close out the month. Ruminant MBM prices were up just shy of $50 out of the Missouri River market in October relative to September. Over the last ten years, the price in October has averaged a $34 drop from September. Prices have historically moved lower in November as well, trading down in five of the last five years. The strong soybean meal market and holiday schedule combined with buyers choosing certainty of supply over aggressive price positions make it reasonable to expect steady to higher prices in the near term.
Figure 1.
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