Ruminant Meat and Bonemeal Climbs on Tight Offerings

Ruminant Meat and Bonemeal Climbs on Tight Offerings

The animal protein market witnessed higher prices on a number of selections on Wednesday, though unsettled undertones linger with the Ukraine-Russia conflict weighing on the grain markets. Ruminant meat and bonemeal was higher for several regions on tight offerings and active demand. Mid test dry rendered tankage (DRT) was up 36.4 percent on the day on accounts of limited offerings in the market and strong interest levels.

Increased volatility was witnessed on the CME agricultural board this week, some participants are hesitant to trade, especially out front. May wheat futures hit limit up early in the day, up by 75 cts/bu to $10.59/bu, May Corn futures were down 75 cts/bu to $7.25/bu and May soybeans dropped 27 cts/bu to $16.63 bu, and May soybean meal was lower by $6.30/ST to $448.00.

Actual 2021 Broiler and Turkey Slaughter Below 2020 Levels

Broiler slaughter for December was at 764.86 million head, a 0.4 percent drop from last year but a 1.9 percent…

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