October soybean meal prices settled at $319.90 this afternoon, up $7.20 from yesterday’s close. The soybean complex saw a boost from today’s WASDE report which cut yields and carryout from the August report. On a per protein basis, a $320 soybean meal market would be supportive of a meat and bone meal market over $330. Heavy supplies and all veg diets have changed the relationship between animal proteins and soybean meal, but bean meal does still provide guidance to the market. Any feeder with space in their rations should be stuffing more animal proteins in to maximize least cost formulations. The October bean meal market is up 8.5 percent over the last two and a half weeks. With more of the October market starting to come into view of the cash market and cattle slaughter reductions forecast over the next six weeks, there is risk for higher prices in…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...