Bovine meat and bone meal prices fell to an average of $575/MT CIF Indonesia this week. Slow demand tied to Ramadan and cheaper US material have contributed to the lower prices. Ahead of the Ramadan break buyers had been paying as high as $700 CIF for material shipping out of New Zealand, but with inventories in place the quick-ship premium has evaporated. Prices into China are steady and values into Malaysia, Vietnam and Taiwan are lower at $550 – 560 CIF.
The lower prices into Asia are pushing the Australian prices lower. Export prices for meat and bone meal were lower again this week despite the continued tight production. Cattle slaughter was reported by the MLA at 97,589 for last week, up from the late March and early April numbers, but still well below the prior three-year average.
Feathermeal prices, both export and domestic, are lower out of the US. Reformulations for April pushed more feathermeal into the…
11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
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CWG trades lower as broader animal fats markets hold steady
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October commercial cattle, hog production above 2023
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