Drought Continues to Influence Cattle Slaughter

Drought Continues to Influence Cattle Slaughter

Medium test Dry Rendered Tankage (DRT) traded at $4.00/unit of protein in the market today. Also witnessed was a highly unsettled market on the porcine front, with highs and lows outside the previously set ranges. Some contacts noted a drop in price from several locations unable to acquire trucks for shipping needs, while others with good freight availability showed limited offerings leading to trading above the printed range. Highs of $440/ST in both Mo. River and Indiana FOB were noted along with a high of $480/ST Carolina FOB, all minimally traded. Porcine blood meal also noted decreases in the market today, with most markets declining from the previously set highs.

It has been reported that continued export declines paired with NOLA port closures from Ida has led to volatility and uncertainty for several markets. However, with the reduction in soybean meal pricing, undertones of pressure for ruminant and mixed species meat and bonemeal remains.

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