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Pacific Northwest ruminant meat and bone meal traded as low as $225 at the start of the week, with West coast markets under pressure from difficult exports leaving local supply heavy. Last week's cattle slaughter fell 3.6% week on week to 636,000 head and was 1.4% below the same week last year, although year-to-date slaughter remains 2.8% above 2017.
Heavy regional MBM supply and weak export demand push local meal prices lower, which pressures rendered protein values for feed buyers. Slower slaughter tightens cattle supply modestly, but the regional export problem dominates the price signal.
thejacobsen.comRyan StandardAug 27, 2018Not 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.
