Light activity was noted for Thursday. Lower pricing on poultry-by-product meal pet food grade for Midwest FOB saw a low of $700/ST but remained wide ranging. Buyer pushback was noted in the market with reports of increased offerings due to some plant down time for the July 4th holiday and maintenance. Trucking and labor limitations continue to affect ruminant meat and bone meal, though reports of strong demand persist. As of July 14, 2021, ruminant meat and bone meal (RMBM) is currently averaging $366.25/ST, an increase from the prior month due to wide ranges and accounts of active demand from participants. The month-on-month gain of $10.80/ST has created the year-on-average to increase as well, 134 percent higher than pricing in July 2020 when pricing was $155.45/ST.

Fig 1.

Relative…