There were higher prices for a number of products in the animal proteins market today. The USDA’s WASDE report generated a big run up at the CME for soybean meal today, the nearby contract finished at $471.20, up $19.40 from yesterday’s close. Ruminant MBM prices traded as high as $375, but the bulk of volume today was in the range of $280 – 350 FOB Missouri River. At an average of $315.50, ruminant MBM out of the Missouri River market has a relative price to nearby soybean meal of 67 percent. The prior three-year average for the Missouri River market is 69 percent, which suggests risk for slightly higher prices in the near term.

The top end of the ruminant MBM is at risk to increase with strong demand for pure beef material. Export and pet food demand for…