Ruminant meat and bonemeal (MBM) was higher out of several regions on Monday, with multiple accounts of strong demand and reduced spot availability. MBM was reported on an FOB basis for spot trades as high as $385/st on Mo. River and $340/st on Texas Panhandle, but volume could not be confirmed as of press time. The Jacobsen is currently forecasting the first quarter cattle slaughter to average 6.5 percent below the prior three-year average of 629.48 million head. This reduction on slaughter along with accounts of improved export trade has tightened offering levels.
Porcine and ruminant bloodmeal also traded higher to start the week, though ruminant bloodmeal saw a larger increase from the previously set ranges.
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