Trade for Wednesday was mixed with meat and bone meal ruminant noting a modest decrease in the Eastern market and higher trading out California. The porcine counterpart was generally a flat call for the day, sources continue to indicate that pet food and export demand are strong. Feathermeal was steady today, although there were indications that hot temps have pulled back offered volumes this week.
Typically, seasonal demand for pet food grade poultry by-product meal (PFG PBM) diminishes into June and July. In the past 5 years, only 2015 noted an increase month-over-month from May into June and for June into July. Collectively, for the last 5 years, the average drop for May into June averaged $49.65/ST and $30.12/ST for June into July. If traditional seasonal trends hold true and continued reports of diminished demand are noted for pet food grade PBPM, it is reasonable to expect continued weakness in the PFG PBM as the market heads into July.
Figure…
04.19.2024
Reduced March RIN production not leading to higher RIN Prices
Total March biofuel RIN production was 1.9 billion RINs, which was 6% below February and 15% below December’s RIN output of 2.25 billion. December had the largest monthly production...
04.19.2024
CWG, YG higher on week, UCO, DCO down again
The market was quiet heading into the weekend. Used cooking oil (UCO) traded in large volume into the Gulf at 40 cents per lb delivered in the truck market.
04.19.2024
Price pressure on ruminant and porcine items for the week
Sloppy markets were reported for porcine and ruminant items at the close of week ending Friday April 19.
Wide ranges were witnessed on porcine bloodmeal (BM), with a...