Extreme Weather Continues to Limit Trading

Extreme Weather Continues to Limit Trading

Trading was again quiet today with no changes reported as buyers and sellers continue to monitor the extreme weather across much of the southern US. Buyers and sellers are likely to ride out the week at steady prices and return next week after getting a better idea on the damage from the weather and in turn, their positions. Production disruptions have tightened livestock slaughter numbers on hogs, cattle and poultry and material will be tight coming out of the rendering facilities this week. Both March and May soybean meal contracts finished above $431 today, which is supportive of higher prices in the near term. Porcine MBM FOB Missouri River is averaging 90 percent of the price of nearby…

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