There were higher prices for a number of products in the animal proteins market today. The USDA’s WASDE report generated a big run up at the CME for soybean meal today, the nearby contract finished at $471.20, up $19.40 from yesterday’s close. Ruminant MBM prices traded as high as $375, but the bulk of volume today was in the range of $280 – 350 FOB Missouri River. At an average of $315.50, ruminant MBM out of the Missouri River market has a relative price to nearby soybean meal of 67 percent. The prior three-year average for the Missouri River market is 69 percent, which suggests risk for slightly higher prices in the near term.
The top end of the ruminant MBM is at risk to increase with strong demand for pure beef material. Export and pet food demand for…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
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Import demand from...
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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...