Trading was mostly steady today with few changes reported. There is some pressure on the feathermeal market with sellers indicating pushback from buyers. Meat and bone meal (MBM) was mostly rangebound today, but there is some expectation that the upcoming harvest and negative seasonal pressure in the soybean meal market could weigh on protein values in the near term. 
US Protein Exports
Feathermeal (FM) had year-on-year increases for the first seven months of 2023. Inedible meatmeal (IE MM), however, has continued to drop throughout the year, though July showed a slight increase from June, a low in exports since May of 2020. Feathermeal was been indicated as active in both domestic and international markets for the second and third quarters of 2023 while meatmeal is slightly diminished, traditional for summer months.

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