Mixed Direction on Ruminant MBM Prices

Mixed Direction on Ruminant MBM Prices

Ruminant MBM prices were lower out of the Dal/Hou market today and higher for IL renderer material. The market seems highly opportunistic for light volume heading into next week with the bulk of buying and selling done and both sides of the trade focusing on logistics. Pockets of heavy supply and perhaps a lack of interest to pick up around the holiday have created some lower-priced opportunities for buyers. Some sellers have seen premiums for additional tonnage in tight delivery windows this week. Fundamentally, prices are at risk to move slightly lower based on the relative price to soybean meal. In the Eastern market, prices for the month are at an average of 88 percent, 0.8 points over the prior three year average for November. December’s relative price is 87 percent, which would translate to a value of $342 on today’s soybean meal market. The holiday and production interruptions are…

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