Animal Proteins- International

MBM trading into Indonesia was done sharply lower,  $440 – 480 with heavy volume seen at the lower half of the range. Trading into China was done lower and in a tighter range at $480 – 490. Sellers outside of the US are pointing to cheaper US material as the cause of the drop. Given that top priced material in the US is trading at $230 – 240/ST or $255 – 265/MT, their argument is certainly a plausible one.

US interior trading has been…