Ruminant blood meal out of the Missouri River market has traded 17 percent higher over the last six weeks. Today’s price, at an average of $950, has a relative price to nearby soybean meal of 204 percent. The prior three-year average for January is 221 percent, which suggests there is more room on the upside of the market in the near term. The Class III milk market has been volatile over the last few weeks, but the trend on the February contract has been higher, which is also supportive of the blood meal market. It’s reasonable to expect sellers to tread cautiously on further price increases with the blood meal market having a…