Protein prices are flat with last week. Much of the APAC market is quiet with the Lunar New Year holiday break starting this week. Prices into China were suggested higher, but the last traded level topped out at US$500 CIF. Values into Malaysia, Taiwan and Vietnam have been indicated as high as $640 CIF.

Australian meat and bone meal trading was higher both for domestic and export, trading was done as high as A$760. Continued tight production and a strong soybean meal market are contributing to the higher prices. Cattle slaughter picked up last week with the MLA reporting Eastern State numbers just under 97,000 head. Total slaughter remains well behind the prior three year average and it’s reasonable to expect this trend to continue with favorable pasturing conditions and the need for herd rebuilding. Prices out of New Zealand are higher, also bolstered by tight supply.

Feathermeal export prices out of the US market into Asia are higher on continued tight…