Slower production rates out of exporting countries are driving prices higher into Indonesia, China and the Southeast Asia market in general. Prices into Indonesia were up US$40 CIF this week and there are expectations for reformulations in the near term. Trading into China was as high as US$585 CIF, but again, there are expectations for reformulations due to high prices and reports of demand already starting to slow.
Australian trading was steady this week with no changes reported. Production remains tight with cattle slaughter down 13 percent compared to year ago levels. Lamb and sheep slaughter are down 20 percent compared to year ago levels and there is risk in the market for higher ovine meal prices in the near term.
Ovine meal out of New Zealand was us NZ$150 compared to the last traded level. Tight production and strong demand from the pet food sector have contributed to the rally. Limited production has also driven…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...