09.20.2024
BOHO spread reaches two-month high
The BOHO spread rose sharply on Friday September 20 to its highest since late July, as October soybean oil futures on the Chicago Mercantile Exchange traded higher and ultra-low-sulfur...
Limited trade values were noted for the end of the week. Pricing levels were indicated as stagnant at week’s end.
The largest mover of the week on animal proteins was porcine bloodmeal, Mo. River, for the second week in a row. Porcine bloodmeal was lower 6.1 percent or $70.00/st from last week’s weekly average. Ruminant bloodmeal was also weaker, down by 1.3 percent or $22.50/st. Negative pressure is expected by many on bloodmeal into next week due to indications of buyers formulating bloodmeal out of their rations.
Porcine meat and bonemeal, Mo. River, was also under pressure this week, down 1.3 percent or $6.00/st on the weekly average from last week. Ruminant was generally flat, though the lower values on porcine placed outward pressure on the item.
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