Meat and bone meal prices into the Southeast Asian markets were higher this week. Increased freight costs and difficulty in shipping containers has contributed to the price change. Trading into China was lower, topping out at $605. 

Australian MBM prices are higher on tight supply, trading as high as A$770, but the bulk of reports were in the range of A$700 – 750. Ovine meal indications were higher this week as well, topping out at A$1500. The MLA reported cattle slaughter at an estimated 88,264 head for last week, down 8 percent from the week prior. Low production levels are expected to continue through the year on herd rebuilding and limitations tied to the COVID lockdowns still in place. 

Decreased demand in the US interior and shipping issues limiting exports have contributed to lower animal protein prices in the US interior. Meat and bone meal is trading as low as $250/MT ex works for mixed…