MBM trading into China was up $10/MT compared to last week. Sources have reported that buyers have come back from CNY looking for March and April discounts, but have paid up to cover any shorts that may have arisen during the holiday. Trading into Indo was done at lower prices and in a tighter range, $455 – 465/MT CIF. Sources suggested that any reports above $480 were fake news and that despite a ”should-be” $500 or more market, sellers are struggling to move prices past $470.
Australian prices were unchanged, both for domestic and export this week. Trading out of the New Zealand market was higher, NZ$575 – 585 for 50 pro Bovine MBM.
US exports were steady up $10 from the previous high, with trading reported in a range $530 – 550 CIF SEA. Feed grade poultry meal was done at $620 CIF SEA. Pet grade PBM has traded as high as $850 into China, but other SEA markets were done in a range of $750 – 780 CIF. ANZ sellers reported values as high as $780 into the SEA market.
The local US markets have seen feathermeal prices come off significantly over the last two weeks. Trading in the Eastern markets is off by as much as $55/MT from four weeks ago. Values in the US interior East Coast were reported at an average of $391/MT FOB this week. Ruminant MBM continues to trade in a wide spread, anywhere from $242.50 – 320/MT FOB. Relationships, volume, location and end user specificity all have played into creating the wide spread.
US Protein Exports
Inedible meatmeal tankage exports were up 4.6 TMT compared to November of 2016 and up 12.2 TMT compared to December of 2015. Mexico and Indonesia combined to import 56% of total exports. Feathermeal exports were at their lowest monthly total this year and the lowest monthly total since February of 2012.