Unsettledness has been witnessed on several protein items as soybean meal prices continue to increase, leading to reports of feed reformulation and increaed, internal usage. Wider than average price spreads have been reported on the poultry-by-product market with chicken meal showing a low of $775/ST and a high of $1200/ST, all in limited trade volumes. Bulk trade movement was narrowed down to a range of $850-1000/ST for chicken meal Mid-South. Pet food grade PBM FOB Mid-South, also traded in wider ranges with a $650-800/ST, as some contacts reported increased offerings and other noted strong demand in the market.
Buyer pushback was reported for ruminant MBM FOB Illinois, leading to wider ranges on the day. Some contacts continued to note a $425/ST level while others were lower at $375/ST. Buyer need and offering levels continue to affect pricing levels region to region and spreads have been untraditional.
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Ruminant meat and bonemeal price pressure in most regions
Price pressure was reported on several regions for meat and bone meal, ruminant and porcine items. Market sources said buyer pushback and light demand, with exception to the pet...