Market Activity

Trading was quiet today with not a lot of action reported. Ruminant MBM did fall to a low of $165 FOB California as sellers struggle to move heavy supply. Porcine trading was flat, but sellers are more optimistic with strong export bookings reported for October and into November.

The fundamentals would suggest that bloodmeal has hit a bottom. September looks to close with a relative price to nearby soybean meal of 177% for the Mo. River ruminant market. That…