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…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...