Please note – The Jacobsen offices will be closed tomorrow, Friday April 2^nd. We will resume our normal publication schedule on Monday, April 5^th.

The protein market was quiet ahead of the long weekend. Soybean meal prices gave up $14 of yesterday’s $25 gain, settling at $409.20 for the May contact. Prices for ruminant meat and bone meal (MBM) have traded down to a level where they should be much more attractive to buyers, even with the big drop in soybean meal today. Over the last five years, ruminant MBM has traded higher in April relative to March twice. The May market has traded lower relative to April in seven of the last seven years….