Ruminant MBM prices traded higher again this week. The Missouri River average price is up to $257 from $245 the week prior. Again, a strong soybean meal market and the prospect for tighter supplies are driving prices. Soybean meal did take a break today, falling just over $4 on the December contract. At just over $383, the ruminant market has a relative price of 64 percent which should continue to make it attractive to the domestic and international markets.
Figure 1.
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11.15.2024
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