Bovine meat and bone meal prices continue to fall for material delivered into Indonesia. Trading was reported in a range of $540 – 580 this week. Strong inventories and Ramadan down time have contributed to the price drop. Sources expect prices to remain under pressure, but there is optimism amongst sellers that prices may rebound in mid-May after the holiday.

Australian exporters continue to drop prices in an effort to remain competitive. Prices for MBM were down to a range of A$650 – 690 for domestic and export sales. There is risk that prices for domestic material could trade lower once May tenders have settled. Cattle slaughter and MBM production remain tight, the MLA estimated last week’s cattle slaughter at 104,271 head.

MBM prices out of New Zealand were lower as well. Lower prices into the importing countries and a strong New Zealand dollar (NZD) versus the US dollar contributed to the downturn.

Sellers in the US domestic market are offering MBM at…