Market Activity

Soybean meal futures slipped slightly lower today, closing at $300.50 for the October contract. If protein were protein, ruminant MBM prices should be around $315 this week, but heavy supplies and all veg diets continue to push the relative price to bean meal lower. At an average of $217.50 today’s relative price to SBM is at 72.4%, which is slightly better than the 70.6% relative price for the market for Jan – August. Prices typically move lower in September…