Trading was quiet today with no changes reported despite a big drop in the soybean meal market.
The animal proteins market has been mostly sideways this week with most week-on-week adjustments at one percent or under. Bloodmeal was slightly firmer for the week, though heightened slaughter in Q4, increased winter feed demand, and harvest expectations are expected to affect the market out front. Undertones of pressure have been conveyed on meat and bonemeal, even as values remained stagnant for the week. Feathermeal has been communicated as active in the US interior, tightening offering levels. Poultry by-product pet grade has been called steady as well for the week.
Soybean meal prices have trended lower over the last four weeks. Weekly values are at $391.52/st for December futures, down $12/st from the high at the end of August.
Fig. 1
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Fastmarkets' research team...