Fundamentals Suggest Higher Porcine MBM Prices in May

Fundamentals Suggest Higher Porcine MBM Prices in May

The animal protein market was again sideways today with no changes reported. Again, sellers continue to ask for higher prices but thus far the market has traded steady. Porcine bloodmeal seems to have found a near term bottom. The April average price to nearby soybean meal is 252 percent for the IA/MO/NE market, 26 points under the prior three year average. Historically, the relative price to soybean meal has increased in May as hog slaughter is seasonally tight. A…

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