**There will be no Animal Proteins bulletin on Monday January 15 in observance of the Martin Luther King Jr. Holiday. **
Most values for Friday were flat with the exception of the ruminant meat and bonemeal market, which moved lower due to the continued increased offering levels reported from several locations. The Western US moved lower with both California and Pacific Northwest dropping to a new range of $180-250/st. Illinois rendered ruminant meat and bonemeal was reported at $215-225/st.
CME March future prices moved lower on soybean, soybean meal, corn, and wheat following the release of the USDA WASDE report. This report was called bearish with both corn and soybean cash prices pushed lower from last month’s values. WASDE monthly average farm cash price for soybean are at $12.75/bu from $12.90/bu last month while the corn average farm price dropped 5 cents to $4.80/bu.
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The only significant price...