Trading into Indonesia resumed this week with prices reported steady to slightly higher from the last traded level. Trading into China was higher with Australian origin material trading at a ceiling of US$450 CIF.
The Australian market was mostly unchanged this week with dynamics steady with the past few weeks. Slaughter remains tight with COVID restrictions and restocking limiting production. As COVID cases have increased in Victoria, shutdowns and a curfew have been extended to try to slow the outbreak. Cattle slaughter was estimated at just under 118,000 head last week, down 20 percent compared to year ago levels.
Trading in the US domestic market was marginally higher on MBM and feathermeal this week. The low prices have helped to attract increased export demand and the evacuation of some material has helped sellers leverage higher prices. Supply is expected to continue to be strong over the next six weeks, however, as…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...