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 trading was reported for Thursday with the exception of the bloodmeal market, leaving most values flat heading into the end of the week. There were trades reported under the current range for meat and bonemeal (MBM), widening spreads on Mo. River and Tx. Panhandle.
Even though ruminant bloodmeal, FOB Tx. Panhandle was reported in a wide range on substantial trade volume yesterday, the low end of the range, at $1000/st, was not repeatable for Thursday. Values were also reported as high as $1275/st, in limited volume FOB Mo. River and as high as $1245/st on the FOB Tx. Panhandle. Values are still wide ranging on bloodmeal and MBM with persistent unease between the Thanksgiving and New Year holidays.
A high of $1500/st was reported on porcine bloodmeal, FOB Indiana, in limited volume. The bulk range was tightened to $1350-1425/st on continued accounts of active demand in the region.
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