Porcine MBM Prices Supported Despite Supply Increases

Hog slaughter finished the week at an estimated 2.754 million, down from last week’s 2.79 but well over last year’s 2.528. Despite the increase in production, up 5 percent year to date, values have been strong through the month. Strong feed and pet food demand are adding strength to the market as is a stronger soybean meal market. Soybean meal prices are up an average of 11 percent for March relative to February, while Missouri…