Blood meal prices were up sharply this week, $50 on ruminant and as much as $75 on porcine from a week ago. Missouri River porcine blood meal prices are up $212.50 relative to four weeks ago. Favorable pricing and a run up on soybean meal contributed to the higher prices. September finished with a monthly average price to nearby soybean meal of 180 percent, 38 points under the prior three year average. Prices are currently at 215 percent of the price of nearby soybean meal, 25 points over the prior three year average for October. The high relative price suggests lower prices in the near term, but demand remains strong and it may not be until more of November comes into the 30 day window that down pressure starts to push on the market.
Figure 1.
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Biodiesel margins rise, but window of opportunity limited
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