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A Fats and Proteins Research Foundation review reports US livestock feed use of animal protein meals fell 25% and animal fats fell 39%, with total rendered ingredient use dropping from 9.75 million to 5.28 million short tons between 2019 and 2023. Biofuel demand, exports, and fat price volatility are cited as causes, with soybean meal gaining share.
Lower rendered ingredient use shifts demand toward soybean meal and other plant proteins, which is bearish for MBM and animal fats and supportive for soymeal.
millingandgrain.comChristopher JoseMar 4, 2025Not enough comparable past events yet for a historical read.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
