MBM Prices Continue to Fall on Reduced Export Demand

MBM Prices Continue to Fall on Reduced Export Demand

Considerable pressure on meat and bonemeal remained for this week, with ruminant and porcine markets FOB Mo. River weekly averages dropping 9.0 percent and 7.0 percent, respectively. Excess offerings were attributed to diminished export trade and reduced pet food interest. After the recent drops, ruminant MBM is trading at an appealing value relative to soybean meal, with the Mo. River FOB market at an average of 67 percent to the January CME soybean meal contract. This has moved below the five-year average for the first time in 2023. Even though these values could boost demand from both the domestic U.S., as well as the global market, the expectation for higher values before the end of 2023 has been rebuffed by most sources. (Fig. 1, 2, and 3)

Bloodmeal prices were flat to higher with porcine up 8.3 percent from last week while ruminant, FOB Mo. River was steady with last week’s average, though widened rages were indicated at mid-week.

Membership is required to view the rest of this post.
Click here to learn more and sign up for a free 7-day trial!

Blog

11.04.2024

US kosher crude glycerin prices edge higher on stronger demand

US kosher crude glycerin prices edge higher on stronger demand

Kosher crude glycerin prices in the US are currently underpinned by an integrated company in the agricultural supply chain and food processing sectors, several sources told Fastmarkets.

The...

11.04.2024

US animal fats markets quiet; cattle slaughter up slightly

US animal fats markets quiet; cattle slaughter up slightly

The US animal fats markets experienced a quiet start to the week on Monday November 4, with no changes observed throughout the day.

In other news, Fastmarkets’ research team forecasts...

11.04.2024

US meat meal production in September down year on year: USDA

US meat meal production in September down year on year: USDA

Trading was quiet in the US animal protein market on Monday November 4, with no price changes reported.

Hog slaughter
Fastmarkets’ research team forecasts hog slaughter at 2.675...

Latest Tweets