Trading in the MBM markets was reported steady again today out of the Mo. River and Panhandle markets for ruminant and Mo. River for porcine. Sources continue to report ample supplies of low protein material in the market, but thus far this hasn’t had an effect on the 50 pro pure beef market.

Feathermeal was reported at $435 FOB Minnesota today and at $450 Mid South. Prices out of the Delmarva market consolidated to $390 – 410. Sources have commented that demand from the organic fertilizers is picking up and some feel confident turning away lower priced export bids. Sales for quick ship material have been sold in light volume as high as $500 FOB.

Animal Proteins – International

Trading into China was quiet this week and prices are unchanged. Sources commented that they expect the market to remain quiet until the first full week of February due to the New Year holiday. Trading into Indonesia was quiet as well and no price changes were reported. Sellers outside of the US continue to lament the lower prices that buyers are seeing out of the US market.

Domestic action in the Australian market was flat with tenders settled last week. Supply remains tight coming off of the holiday stretch. The combined cattle slaughter in Australia for weeks ending 12/30 and 1/6 is 96,034 head. Export values widened on MBM and FM to $550 – 600 and $650- 700, respectively.

The New Zealand market was similarly quiet, but sources did report lower prices on 45 pro and 50 pro MBM. Sellers remarked that despite the tight supplies in the country, competition from the US has pressured values lower. Prices for smaller market exports continue above the NZ$610 mark.

US interior trading for MBM has flattened after the run up seen over the last three weeks. Ruminant MBM is trading as low as $220/MT FOB US, but the bulk of material is moving in a range of $265 – 280/MT FOB. Feathermeal prices continue to climb with prices starting to push north of $500/MT in the Midwestern and Mid South regions of the US. Coastal trading is lower, but is still seeing action in the $440/MT range.

US Animal Protein Exports

November exports of feathermeal were up 253 MT from October and down 34 MT from November of 2015. YTD figures are well behind 2015, down 22,415 MT compared to the same time period last year. Inedible meatmeal product is up 129,825 MT compared to the Jan – Nov time period last year. Volume for November was down 12% compared to October.

Please contact Ryan Standard at 563.223.9021 or [email protected] with any questions, comments or trading.

	Today	Last Week	Last Year	WTD
Broiler Slaughter	33,319,000	32,974,000	31,962,000	132,645,000