Values were mostly steady for Thursday with pricing levels within the previously set ranges.
Pressure on ruminant meat and bonemeal (MBM) has been slow and steady since April of 2022, while porcine MBM has been on a downward trend after peaking in June.
Beef production levels have been 5.2 percent, or 1,031.85 million pounds, below the previous year on ruminant. Lower cattle head counts, higher feed costs, as well as drought have pushed cattle through quicker than usual this summer. Slaughter levels are expected to move higher into the fourth quarter for cattle, typical with seasonal trends but will remain below 2022 levels by 4.1 percent based on the most recent WASDE report.
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