Market Activity

Ruminant MBM was reported higher out of the Mo. River market today, $250 – 280 and steady out of the Panhandle. Porcine material traded in a wide range, $270 – 320 FOB River and Eastern IA/IL. Both porcine and ruminant material remain well valued versus soybean meal. The May porcine market hasn’t seen a relative price to SBM below 80% in the last 17 years; today’s relative price to nearby SBM is 75.9%. With that state the ratio to bean meal isn’t the issue, rather…