Blood meal prices traded sharply higher today as low prices have given way to strong demand. Buyers have bumped demand for October arrival and are paying sharply higher prices for material across all species. It’s reasonable to expect a wide trading range in the near term as values consolidate into a new trading range.

Ruminant MBM out of the Missouri River market is poised to set a record low relative price to soybean meal for the month of September. The current monthly average of $178.81 has a relative price to nearby soybean meal of 58.7 percent, 18.4 points under the prior three-year average. The forecast for slowing ruminant MBM output and the favorable price to soybean meal should make it an attractive option for domestic…