Lower soybean meal prices driving bearish market sentiment

Lower soybean meal prices driving bearish market sentiment

Trading was quiet in the animal protein market on Friday August 16, with no changes reported.

The US animal protein market showed little price movement in the week ending Friday. Several market participants indicated that animal protein prices were still under pressure, with the trade expecting the weakness in the soybean market to continue through the third quarter.

The largest price mover of the week in animal proteins was feathermeal FOB Carolinas, Delmarva, Mid-South and Alabama/Georgia regions. This was due to price drops late last week that affected the weekly averages.

No actual price changes were indicated for the week to Friday on feathermeal, though wide ranges were still reported.

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