Trading in the protein markets was quiet this afternoon with no changes reported. Soybean meal prices were slightly lower today at the CME, opposite of the soybean oil market which has been a five-day tear higher. Early indications suggest the slightly softer soybean meal market will have offerings out steady this week.

Production is forecast to trend lower on porcine products. Slaughter was estimated at 2.625 million head last week, down 2 percent from last year and down 0.6 percent from the week prior. Slaughter is forecast to average 2.613 million head per week over the next six weeks, falling to a low of 2.525 million…