Animal protein prices were steady on Thursday May 16.
Market sources reported an uptick in interest, but the upcoming Memorial Day holiday, lower prices for distiller dried grains with solubles and the price volatility in soybean meal have led to flat values for the near term on most products, specifically meat and bonemeal.
Fastmarkets’ price assessment for bloodmeal, porcine, fob Iowa/Missouri/Nebraska was $975-1,100 per short ton, down from Wednesday May 15’s range of $1,000-1,100 per ton.
May USDA Feed Outlook
Grain Consuming Animal Units (GCAUs) are estimated to be at 100.47 million head for marketing year 2023/24, down by 0.17%, or 175,026 head, from April’s estimate but higher by 2.38%, or 2.34 million head, from the May 2023 estimate, according to the most recent May USDA Feed Outlook.
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Fastmarkets' research team...