Mid South feathermeal prices have steadily increased since the week ending July 20^th, 2020. As illustrated in Fig 1. below, the market overcorrected to the downside after averaging 116 percent of the price of nearby soybean meal in late April and through May of 2020. Production increases and COVID disruptions acted as a catalyst to the move lower. With values continuing to increase and soybean meal values under downward pressure, how much momentum is left in this bull run? While soy has contributed to the rally and may certainly be its undoing, tight nearby positions and the potential for short covering remain a risk for higher prices in the near term. Broiler slaughter is expected to averaged 2.4 percent below 2020 levels…