Trading was quiet to close out the week. Bloodmeal reports remain mixed with volume reported throughout the printed range. Porcine MBM out of the IA/NE/MO market is currently trading at a $60 premium to Mo. River ruminant, $20 over the prior three year average for August. The wide spread suggests ruminant prices are likely to increase in the near term as buyers take advantage of the value. Some production interruptions tied to storm damage from earlier in the week may also contribute to slightly tighter supplies in the nearby market, which is supportive of higher values.
Figure 1.
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