Lower Soybean Meal Prices Pressure Feathermeal Market

Lower Soybean Meal Prices Pressure Feathermeal Market

Lower soybean meal prices and port congestion continue to weigh on the feathermeal market. Trading was reported in good volume between $450 – 500 FOB Mid-South today. Trading was lower out of the Carolinas market as well. The nearby soybean meal market is off 5 percent from March 1st  and 14 percent from the high of $465 per ton on January 14th. Mid South feathermeal prices increased steadily since the start of the year, recently topping out at an average of $587.50 on March 3rd.  The relative price to soybean meal on March 3rd was 140 percent, a fundamental signal for lower prices. Feathermeal prices are down 14 percent over the last week…

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