Ruminant and Porcine Protein Markets Higher on Tighter Supply

Ruminant and Porcine Protein Markets Higher on Tighter Supply

Tight supplies contributed to higher prices in the animal protein markets this week. Ruminant and porcine prices were higher for meat and bone meal (MBM) and bloodmeal. Ruminant and porcine MBM were up 1 percent compared to the week prior. Porcine bloodmeal was up 2.6 percent FOB IA/MO/NE and ruminant bloodmeal was up 2.4 percent FOB Mo. River. Feathermeal was flat and has been unchanged since the week ending May 14th. The holiday week combined with the ransomware attack on JBS left the market down 14.5 percent on cattle slaughter and 16.9 percent on hog slaughter compared to the week prior. It’s reasonable to expect the tightness to continue to support the market in the near term, but sellers may struggle to push prices much higher while soybean meal prices hand around the $395 – 400/ST…

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