Heightened Volatility In Several Markets

Heightened Volatility In Several Markets

Unsettled tones were amplified today with participants reporting wider than average ranges on the poultry-by-product pet grade market for Mid-South. A low of $700/ST, in limited volumes, was reported along with a high of $850/ST, creating an increased spread of $725-850/ST. Feathermeal out of the AL/GA and Delmarva markets traded higher on higher soybean meal values.

The ruminant MBM market traded in a wide range on the Illinois packer market, with a $350-425 range. Pushback from some locations has been consistently reported, with a low of $340/ST, in light volume, while others saw strong demand at the top end of the range. Activity levels have been regionally dispersed and untraditional, leading to irregular spreads and heightened uncertainty. Double purchases have been reported with participants obtaining truck shipments on top of rail cars in order to offest the risk of late rail car arrivals. Sources have reported delays of a week to a week and a half on shipments. 

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