Market Activity

Ruminant MBM prices moved lower out of the Panhandle market, trading as low as $180 today. A number of sellers are struggling to move material that can’t be guaranteed as 100% beef and as a result the price range for ruminant MBM continues to widen. At an average of $212.50 FOB Panhandle, ruminant MBM has a very favorable ratio to soybean meal of 68%. The fundamentals suggest that inclusion rates should increase, but heavy supplies and…