Organic feed commodity prices remain steady.  Fastmarkets projects that current buying practices – which feature thin inventories – will continue until there is some kind of catalyst. Merchandisers disclosed to Fastmarkets that the increased carry costs caused, in part, by high interest rates, can reach 20 cents per bushel monthly.

End users are happy to have others store their feed given the costs of storage. The US Federal Reserve met this week, leaving rates unchanged to realize their 2% inflation target, but indicated optimism about a September rate cut.

Another catalyst would be any perception of supply constraints in the market. End users would like to avoid the supply chain challenges of…