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Fontanelle, IA | Don - are you saying that you are substituting peas and canola meal in for your pig / poultry rations because they are a cheaper ration substitute for SBM? Shouldn't every livestock operation be examining cheaper alternatives all the time to keep costs of production down - well, as long as the switching costs are not prohibitive? Or, did something else drive your decision?
In your spread trading of proteins, are you thinking then that SBM should move lower (is currently overvalued) to match the percentage drop that soybeans have since around May 1st? I was looking that since May 1, SBM has only dropped 17% (was figuring $67/ton from the $392 high on current contract on May 1) while beans have dropped 19% (July beans trading $10.50 area and now $8.48?
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Who is paying the tariffs
