Soybean Meal Outlook

Graphic--Soybean Meal Supply and Price

The primary ingredient providing the protein component in livestock feeds is soybean meal and the price outlook for this commodity is similar to corn, based on a smaller harvest this fall.  The USDA-NASS estimate of soybean production released earlier this month adjusted soybean production down 2% from the estimate made a month earlier.

See the Livestock Monitor below for full update.