Market Activity

There was some more trading at $385 for ruminant out of the Mo. River market on what was otherwise a quiet day. A load of porcine MBM traded as low as $370 out of the River market. Bean meal futures are flat through August at $309 and Midwest basis levels continue to come off. Cash basis to MBM is now around the 120 – 125% level, which has certainly gotten the attention of the buyers. The Fri/Sat cattle slaughter was a paltry 94,000 head with the weekly estimate at…