Ruminant blood meal out of the Missouri River market has traded 17 percent higher over the last six weeks. Today’s price, at an average of $950, has a relative price to nearby soybean meal of 204 percent. The prior three-year average for January is 221 percent, which suggests there is more room on the upside of the market in the near term. The Class III milk market has been volatile over the last few weeks, but the trend on the February contract has been higher, which is also supportive of the blood meal market. It’s reasonable to expect sellers to tread cautiously on further price increases with the blood meal market having a…
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...