Meat and bone meal (MBM) prices paused this week with trading reported sideways on both ruminant and porcine MBM out of the Missouri River markets. The December soybean meal market was up slightly today, settling unchanged at $388.10. Soybean meal prices should offer nearby support to the market, but the rally in animal protein prices may be put on pause in the near term due to strong production and the potential for export difficulties tied to container shortages.
Looking at history, over the last five years, prices were lower in all five instances in the week before the Thanksgiving holiday, but steady to higher in three of the last five years heading into the Christmas break. With soybean harvest coming in and basis pressure, the fourth quarter has typically been one of lower prices for the animal proteins market. Bullish crop reports and surging COVID numbers have reversed that trend across the animal co-product spectrum. Hog slaughter is expected to continue to…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...