Trading was quiet in the animal protein market on Monday March 3 with many market participants taking a wait-and-see approach to US tariffs that are set to go into effect for Mexico and Canada on Tuesday March 4. 

Sources have said there is “ample concern” in the market about retaliatory measures coming from Canada, Mexico and China — all three of whom constitute a large market for US animal proteins.

May soybean meal futures were down by $2.20 per short ton on the Chicago Board of Trade on Monday, marking a fourth consecutive day of losses and adding to a negative tone in the protein market.

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