Meat and bone meal (MBM) trading into Indonesia was quiet and price indications are unchanged from last week. Trading into China was lower at $550 – 580 CIF. Buyers have been able to leverage lower soybean meal prices to push the nearby MBM prices lower.
Trading out of the Australian market was mostly unchanged. MBM prices remain supported by a lack of supply. Pure beef is trading as high as A$780 for export and mixed species is as low as A$720 for both export and domestic trading. Cattle slaughter was reported at 97,301 for last week by the MLA, down 4 percent from the week prior. Supply is expected to remain tight in the short term with herd rebuilding underway. Strong petfood and aquaculture demand are supporting the poultry meal and feathermeal markets. Spot availability for poultry meal and feathermeal remain limited due to strong commitments for contracted positions. Trading out of New Zealand was mostly flat, but 50 pro MBM fell on lower prices paid out of…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...