Porcine BM Supported while Ruminant BM Remains Rangebound

Porcine BM Supported while Ruminant BM Remains Rangebound

A wait-and-see attitude was held by most participants today with volatility in the markets due to a combination of the upcoming harvest yields and quality as well as renewed fears of the Delta COVID variant. Porcine bloodmeal (BM-P) witnessed support with accounts of thinner offerings in the market from slower line movement and active demand. Ruminant bloodmeal (BM-R) had reports of diminished export offerings increasing the supply in the domestic market, however, locations remained rangebound for the day. BM-R Missouri River witnessed wide ranges for the middle of July with the current price for the month averaging $966.04/ST. Even though this is less than a one percent change from the prior month, this is an 83 percent increase year-over year and a 57 percent hike from the 3-year average. A seasonal decline can be witnessed below in Fig 1, with the 3-year average dropping 10 percent from June to July. Looking at Fig 2 below, one can see the percent of upward moves for the past…

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