Market Activity

Big volumes traded on ruminant MBM late yesterday at $220 FOB Panhandle and Mo. River. Lower trading was reported out of both markets today. Porcine trading was done as high as $230 FOB River today. Sources in both markets expressed a bit more optimism that the market was close to a bottom. Bean meal prices slid $10 for Dec futures at the CME this afternoon, but this likely had little effect on the market. With the drop in bean meal, MBM and FM ratios to soy are…