Large volumes were traded on the US animal proteins market on Tuesday November 5. Prices remained within the previously assessed ranges, but market sources reported supportive undertones ahead of the Thanksgiving holiday period due to increased demand.
Porcine meat and bonemeal relative to soybean meal
Prices for porcine meat and bonemeal (MBM) relative to soybean meal (SBM) futures on the Chicago Board of Trade (CBOT) have fallen from their peak in April.
So far in 2024, the monthly MBM prices relative to SBM have mostly been in line with the corresponding averages in the previous three years. But in July and August, the relative price was down by 11 percentage points and 21 points respectively compared with the three-year averages for each month.
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Gulf prices average higher despite weeklong declines in SBO
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