12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
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Activity was limited today on relatively tight volumes. There are pockets of weakness developing that may spread in the near term. Porcine MBM was bid as low as $275 FOB today, but there are indications that some of the material in the market may be of a different specifications than what typically comes out of the rendering plants due to whole hog constituency, e.g. blood and lean protein that would push color and protein values out of typical ranges.
Figure 1.
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