Global Protein Market Firm

Global Protein Market Firm

Meat and bone meal trading into China and Indonesia was steady. There was some volume suggested as high as $520 CIF Indonesia this week. Sellers with short shipping times have been able to capture a big premium over the US market, which is trading at the lower end of the range. Trading into Taiwan, Malaysia, and Vietnam was done as high as $550 CIF for bovine material. US exporters are seeing good porcine MBM demand from Vietnam as well and there are reports of good volume shipping in October.

Tight slaughter and strong export demand continue to push Australian meat and bone meal prices higher. Export trading was reported as high as A$720 DCT and domestic trading topped out at A$690. Cattle slaughter was estimated at 88,758 head for last week by the MLA. The sub 90,000 head total is the lowest non-holiday production week since xx of xx. Higher soybean meal prices…

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