Meat and bone meal prices into China traded in a wider range this week, US$595 – 625 CIF. Values into Indonesia remain unchanged. Buyers are pushing for lower prices and given the decreases in the US markets, values should come off, but shipping issues remain a big problem for all along the supply chain and are keeping prices relatively flat. 

Australian and New Zealand trading was flat this week with no changes reported. Supply continues to be tight with cattle slaughter in Australia continuing below 100,000 head per week. The MLA estimated the Eastern States cattle slaughter at 96,215 head for last week, down 33.8 from 2019 levels. 

The domestic US market is trading lower on steady supply and difficulty exporting material. Sellers continue to be beleaguered by a lack of shipping containers, labor shortages…