Soybean Meal Prices Putting a Cap on Protein Market Rally

Soybean Meal Prices Putting a Cap on Protein Market Rally

Bovine meat and bone meal prices were lower into Indonesia this week. Pre-Ramadan orders seem to have been filled and price ideas are lower for the next position. Trading into China was done at higher prices, US$550 – 590 CIF. Trading as high as $600/MT CIF into the neighboring markets has contributed to the higher prices into China.

Tight supplies in the Australian market have contributed to higher meat and bone meal prices for export and domestic sales. The MLA reported the Eastern states total at 101,155, which is flat with the week prior and down 13 percent from last year. Blood meal prices are higher as well, trading as high as $1400/MT.

Pet grade poultry by product meal is steady into Southeast Asia this week out of the US and feathermeal price are lower, trading in a range of $680 – 700 CIF. Sellers have been forced to drop prices into the importing countries in an effort to keep material moving.

Domestic prices in the US are steady to higher, but…

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