Meat and bone meal prices were steady this afternoon with supply and demand appearing to be well balanced at the moment. Supply is expected to continue to trend higher in the near term with a bigger harvest forecast for cattle, hogs and broilers. The additional supply and weakness in the soybean meal market add risk for lower prices in the near term. At present, the porcine MBM market has a premium of $55 to the ruminant market FOB Missouri River. The prior three-year average for July is $41.29 and $33.49 for August. With porcine material increasing in supply, the ruminant market may pull prices lower in the near term. The one piece of data that is supportive…