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…
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...