Market Activity

Ruminant MBM out of the Texas Panhandle market closed the month of November with a relative price to soybean meal of 69 percent. Despite the favorable ratio to soybean meal there is little risk in the market for higher prices in the short term. The prior three year average for December is 66 percent, three points below the current relative price. Heavy cattle slaughter numbers along with heavy hog slaughter look to keep the protein market well supplied with MBM and…