Animal protein prices traded broadly higher today with stronger demand seen in a number of markets. Ruminant MBM prices were up as much as $17.50 from the last traded level today. Stronger soybean meal prices, good export demand and tighter cattle slaughter have all contributed to the upswing. Material was indicated as high as $240 out of the Midwestern market, but the bulk of action was within today’s printed range. The higher indications are a sign of a firm market with some sellers seeing tight, nearby positions.
Trading into Indonesia has been indicated as high as $495 CIF by non-US sellers, which would be very bullish for the nearby, ruminant MBM market. At an average of $187.50 FOB Missouri River and Texas Panhandle, ruminant MBM…
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