Ruminant MBM prices moved higher today with increases reported in all but two markets. Porcine trading was done at higher levels as well. Soybean meal was down just shy of $2 today at the CME, but the $360 nearby price should do little put a cap on prices. Buyers may start to push back basis the anticipation of cheaper cash material coming into the market in November and December, but the nearby market appears to be steady.
Meat meal exports hit a 2020 high in August with 89,881 MT exported. Mexico was the largest importer taking in 19,586 MT; Vietnam imported 18,286 MT and China was the third largest buyer at 16,421 MT. Indonesia imported 16,421 MT in August.
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...