The top end of the bovine MBM market moved higher into Indonesia, with trading as high as $745 CIF. Buyers continue to pay a premium for quick shipments or perhaps, guaranteed timelines, for material out New Zealand. North American material is trading a substantial discount, but prices continue to move higher due to favorable pricing.
Slower production in Australia has contributed to higher prices for animal proteins. Cattle slaughter was higher last week, but remains well below 2019 and 2020 levels. Favorable pasturing conditions and negative margins for cattle are likely to keep production slow to start the year. Additionally, cattle ranchers are at a stage where herd rebuilding is necessary after big beef demand and high feed prices pushed a big increase in the heifer numbers through the abattoirs.
The US domestic market continues to move higher, albeit at a slower pace. Soybean meal is dictating direction, but with prices falling over…
12.24.2024
Animal fats, oils markets quiet amid Christmas holiday
The US animal fats and oils markets remained steady on Tuesday December 24, amid limited trading due to the Christmas holidays.
Market sources expected activity to remain subdued...
12.24.2024
US November broiler, turkey slaughter down year on year
US animal protein prices were steady on Tuesday December 24, with limited volumes reported to have been traded. With the proximity of the end-of-year holidays, most market participants are...
12.24.2024
US weekly soybean, wheat export inspections rise, corn falls
Weekly export inspections
Export inspections of US grains showed a decline for corn but an increase for soybean and wheat in the week to December 19, according to data...