Trading into the China and Indonesia markets was steady this week, but buyers in both markets are pushing back on prices due to the availability of cheaper soybean meal. Protein prices in Australia and New Zealand were unchanged this week. Supplies are at risk for tightening on bovine products due to slaughter reductions. Cattle slaughter in Australia was estimated by the MLA at 123,346 head last week, down 2 percent from the week prior and 19 percent relative to last year. The Chinese government has banned beef imports from the four largest Australian abattoirs in response to the Australian government pressing for an independent investigation into the origins of the SARS-CoV-2 outbreak.
Prices in the US market for meat and bone meal have fallen due to the increase in slaughter. Porcine material in particular has seen the biggest impact of the surging supply. Prices are off as much as $200/MT FOB plant for material this week relative to two weeks ago. Mixed species MBM…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...