Porcine MBM prices moved sharply lower today. The increased production is meeting a market that has less of an appetite for MBM due to cheaper soybean meal and reformulations already in place of May. Cheaper prices have historically been the norm for May with values increasing relative to April at twice in the last ten years and not once in the last five. The average price move in May relative to April over the last five years is a drop of $10.94. June has historically brought higher prices to the market with prices higher relative to May in three of the last five years. The higher prices this year are likely to wash out an potential increases in June relative to the May average…