The mixture of rain and snow accumulating across the U.S. Midwest and East Coast left most prices unchanged on Tuesday. Several sources indicated road closures due to winter weather, leading to most prioritizing logistical concerns over trading. Meat and bonemeal continues to be indicated as bearish, with excess inventory and limited demand.
Pressure on Soybean Meal Heightens Bloodmeal Relative Price
Values for soybean meal have dropped significantly since the high reached in mid-November of $469.20/st. Since then, the values have been under pressure due to a variety of reasons. U.S. exports have weighed heavily on the markets with the high in November tied to increased exports to China. Recently, increased rains in South America have led to the drop in values with the yield expected to increase.
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05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...