The porcine MBM market was more active to the upside this week versus the ruminant MBM market. Both meat and bone meal markets saw higher prices this week, catalyzed by the strong soybean meal market coming off of the holiday break. The spread between ruminant and porcine MBM is currently at $25 for the Missouri River markets, $10 under the prior three year average. The indications from the market have been that ruminant has been a bit harder of a sell this week versus the porcine, which has seen good demand from the pet food, domestic blenders and export markets. It’s reasonable to expect the strong demand to continue to pull on the porcine market, especially if sellers are long into the export sector and the spot availability tightens up in the second half of January.
Figure…
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