Meat and bone meal prices into the Eastern market were higher, boosted by strong demand and higher FOB prices in the Midwest. Soybean meal finished today down just under $4 for the December contract, but at $368, the ruminant MBM market should continue to see price support. Trading into Indonesia was done as high as $520 CIF out of New Zealand this week. Indonesia’s average price is $408/ST CIF, a $178/ST premium to the Missouri River market. The wide spread should attract additional demand out of the Indonesian market and while approved plants aren’t ubiquitous, the increased export volume should help to keep the interior supply tight and domestic prices well supported.
Figure 1.
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11.13.2024
Neste, Air Canada sign SAF agreement for Vancouver
Finnish transport fuel producer Neste and Air Canada have signed an agreement for the delivery of approximately 20 million gallons of sustainable aviation fuel (SAF) for use by the...
11.13.2024
CWG prices up slightly; DCO movements mixed
The US animal fats and oils markets remained mostly stable to slightly higher on Wednesday November 13, with a modest increase in trading, though many participants continued to exercise...
11.13.2024
2024/25 grain consuming animal unit headcounts increase by 0.39%
Meat and bonemeal, porcine and ruminant, Missouri River were lower on Wednesday November 13. Market sources told Fastmarkets that there are varied poultry and layer feed demand levels, with...