Animal Proteins – International

Trading into China and Indonesia was done at higher levels for MBM this week. Tighter supplies are helping boost values along with a stronger soybean meal market. Soybean meal prices at the CME are up $17 versus a week ago and there is potential for higher prices in the near term. With gasoline prices plummeting over the last few weeks, ethanol margins have quickly turned negative and a number of plants are idling. The slowdown in ethanol production…