Porcine MBM prices held steady this week while ruminant prices fell $30 out of the Missouri River market and $20 out of the Texas Panhandle. Mixed species material continues to weigh on the bottom side of the ruminant market, but pure beef packer material has traded lower as well, topping out at $210. Porcine seems to have settled into a floor with strong export demand tightening up nearby supply. For the period including 2017 – 2019, porcine MBM FOB Mo. River has traded at a $52 premium to ruminant for June and a $41 premium for July. Supply has likely been a big dictator of this spread, heavy beef slaughter and slower pork. This year the trend of tighter supplies in June has been bucked with producers catching up and the spread has fallen to $30. History suggests that there is some additional downside to the ruminant MBM market basis the spread to pork MBM, but strong…
11.13.2024
Neste, Air Canada sign SAF agreement for Vancouver
Finnish transport fuel producer Neste and Air Canada have signed an agreement for the delivery of approximately 20 million gallons of sustainable aviation fuel (SAF) for use by the...
11.13.2024
CWG prices up slightly; DCO movements mixed
The US animal fats and oils markets remained mostly stable to slightly higher on Wednesday November 13, with a modest increase in trading, though many participants continued to exercise...
11.13.2024
2024/25 grain consuming animal unit headcounts increase by 0.39%
Meat and bonemeal, porcine and ruminant, Missouri River were lower on Wednesday November 13. Market sources told Fastmarkets that there are varied poultry and layer feed demand levels, with...