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US animal protein trade was large in volume on November 5 with prices within prior ranges. Market sources cited supportive undertones ahead of Thanksgiving from increased demand, and porcine MBM relative to CBOT soybean meal has fallen from its April peak.
Stable prices and firmer holiday demand support meal values, while weaker MBM relative to soybean meal reduces the economic appeal of MBM in rations.
thejacobsen.comAlexandra WattsNov 5, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
