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Fastmarkets reported ruminant meat and bonemeal FOB Missouri River at 77.20% of CBOT soybean meal for the week to May 3, a 13-point drop from the five-year average. The relative value fell as soybean meal prices declined more than MBM rose over the year.
A falling ratio of ruminant MBM to soybean meal makes MBM relatively cheaper as a protein source, which can shift feed formulation toward it. The change reflects soybean meal weakness as much as MBM strength.
thejacobsen.comAlexandra WattsMay 9, 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.
