**Please note – Chloe Krimmel is out of the office until Monday, March 11. In her absence please contact Ryan Standard.**
Trading was quiet today with no changes reported.
Through the first two months of the year, ruminant meat and bonemeal (MBM) has been more stable than previous months. The Missouri River market has remained unchanged at $237.50/st. Though there have been indications of changes in the market, the bulk of volume continues to remain within the set range.
Despite the stagnation on ruminant MBM values, the drop on soybean meal through January and February has increased the relative price.
January was at 62.5 percent while February was at 68.9 percent. Both relative values are under the three-year and five-year averages, and well under 2023 levels.
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