Prices into Indonesia are steady this week. Trading was done as high as $585 CIF Indonesia with offers out at $590 CIF. Trading into China is higher at $580 – 595. Buyers had been pushing back basis the cheaper soybean meal numbers, but have been willing to pay higher prices out of the Australian/New Zealand (ANZ) markets for reduced shipping times.

Domestic bovine MBM prices are higher out of and in the Australian market this week. Tight supplies have helped push the top side of the market higher. Production was already at decades low numbers and the cyber-attack on JBS exacerbated the situation. Despite the tight supply, trade restrictions on Australia and shipping difficulties have kept a lid on the market. Some short covering is expected in the near term and this could further boost prices in the Australian market.

Prices in the US domestic market are steady to higher after the long, Memorial Day holiday weekend….