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.
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Steady slaughter levels, lower prices into the US Gulf for all feedstocks and lower prices for distillers’ corn oil (DCO) in the Midwestern markets have all weighed on the...
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Fastmarkets research forecasts cattle slaughter at 625,000 head in the week to Saturday April 27, less than half a percent lower than the same period in...
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