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Flooding in Iowa, Minnesota and South Dakota is disrupting animal protein logistics and freight. Fastmarkets reported poultry bloodmeal down to $800-850 per short ton and poultry by-product meal and chicken meal also lower on June 25.
Flood-related freight disruption constrains movement of animal proteins out of the Upper Midwest and softer soybean meal is pressuring protein meal prices, pointing to weaker bloodmeal and by-product meal values.
thejacobsen.comAlexandra WattsJun 25, 2024Not enough comparable past events yet for a historical read.
After 34 past bearish logistics events, Soybean Meal moved a median +0.4% over 5 sessions (53% higher; middle half -1.8% to +2.6%), and -1.2% over 20.
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.
