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Meat and bonemeal and bloodmeal prices were mixed to softer on April 16, with porcine MBM FOB Missouri River quoted at $380-450/st and ruminant MBM steady. Market sources cited mixed export demand and weaker domestic feed interest, partly offset by brisk pet food demand.
Softer MBM values reduce the cost advantage of this protein for feed formulators, so buyers may find it cheaper to hold off or substitute, which supports pressure on the rendered protein complex.
thejacobsen.comAlexandra WattsApr 16, 2024Not 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.
