Meat and bone meal (MBM) prices into Indonesia were down $10 from last week’s high of $650 CIF. Lower soybean meal (SBM) prices and reports of strong inventory levels ahead of the Ramadan downtime have contributed to the downturn in the Indonesian market. The lower Indonesia prices are reflected in the New Zealand export values, prices were off by NZ$30 from last week. Australian MBM export prices were lower as well, down A$15. Australian prices were lower despite continued supply tightness. Eastern state cattle slaughter was reported at 98,769 head for last week by the MLA. Plentiful rain is helping to keep cattle on pastures and out of the abattoirs as restocking continues.

Ruminant MBM…