Soybean Meal Market Pulling Animal Protein Prices Higher

Soybean Meal Market Pulling Animal Protein Prices Higher

A number of protein products traded higher today with both buyers and sellers coming out of the holiday break to sharply higher soybean meal prices. The March contract settled at $431.80 today, up $8.10 from yesterday’s settlement. Porcine MBM out of the Missouri River market finished December with a relative price to soybean meal of 79 percent. The prior three year average for January is 80 percent, which suggests a value of $345 today. Tight supplies coming off of the holiday and the potential for a continued run higher in soybean meal add…

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