Bovine meat and bone meal (MBM) trading into China was done at higher levels this week. Tight supplies out of the Australian and New Zealand market have driven the market up in addition to stronger soybean meal values. Trading into Indonesia out of New Zealand was done at US$355 – 365 CIF, but the bottom end of the range remains in play due to cheaper material coming out of the US market. Prices into Malaysia, Taiwan and Vietnam were up $10 CIF for bovine MBM.
Australian MBM prices moved higher this week, topping out at A$500 for export. Domestic trading was quiet with September tenders underway. Tight slaughter remains a driver in the market with cattle kills down 24 percent relative to last year. The same dynamics are in play for the New Zealand market with MBM up NZ$25 this week on tight supply.
Ovine meal was reported at A$1000 DCT. Lamb slaughter was reported down 2 percent relative to the week prior, but up 5 precent compared to last year. Spring…
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