The present invention provides a pellet mill (20) for preparing pellets from a pelletizable material supplied to the pellet mill (20), comprising a frame (22), a main axle (28) rotatably mounted in said frame (22) and having a first end (30) and an opposite second end (32), an annular die (42) being supported by said second end (32) and having an inner surface (44) for receiving a portion of said pelletizable material (106) supplied to said pellet mill (20), an outer surface (46), and a plurality of radial channels (48) extending from said inner surface (44) to said outer surface (46) for preparing pellets from said portion of said pelletizable material (106), a roller holder (54) supported by said frame (22), a number of roller axles (64), each of said number of roller axles being moveably mounted in said roller holder (54), said roller axles may move in said roller holder (54) in the event of an overload to prevent damage to the pellet mill, a number of rollers (80), each of said number of rollers being rotatable around a corresponding one of said number of roller axles (64), each of said number of rollers (80) being adapted to press said portion of pelletizable material (106) against said inner surface (44) for rolling, in response to rotation of said annular die (42), along said inner surface (44) of said annular die (42) for forcing said portion of said pelletizable material (106) from said inner surface (44) to said outer surface (46) through at least one of said plurality of radial channels (48) for preparing said pellets, and a number of actuators (114), each of said number of actuators (114) being operatively connected to a corresponding one of said number of roller axles (64) and being adapted to prevent movement of said corresponding one of said number of roller axles (64) relative to said die holder (54) for maintaining a distance between a corresponding one of said number of rollers (80) and said inner surface (44) of said annular die (42).