Meat and bone meal traded lower into China and Indonesia this week. Heavy supply continues to weigh on prices and lower demand tied to smaller chick numbers are pressuring prices lower into Indonesia.

Trading in the Australian market was unchanged this week. The lower numbers into the importing markets has been offset by a drop in production. Slaughter was down to just over 117,000 head for the Eastern States last week. The Brooklyn, Victoria JBS facility was closed after a few employees tested positive for COVID-19. Growing numbers of cases in New South Wales and Victoria have added risk for production interruptions in the near term. The beef industry seems to be in restocking mode with yearling steer prices up as much as 78 percent in some locations.

Ruminant MBM prices moved lower in the US market with trading topping out at $175/MT FOB plant in the interior. Strong production and an overall, oversupplied market…