**Please Note** The Jacobsen will not publish an International Animal Fats Bulletin next Thursday, November 27^th due to the Thanksgiving holiday.**

Edible tallow (max 1% ffa) traded higher out of the New Zealand market this week, while the max 2 ffa and higher products moved lower. Sources have commented that they expect prices to rebound in the coming weeks on tight supply and increased demand for early 2022 arrival. Australian trading was quiet this week with no changes reported. The cattle slaughter continues to fall with the MLA estimating the Eastern States harvest just below 90,000 head for last week. Favorable pasturing conditions, COVID induced labor shortages and poor margins for some processors are likely to keep the slaughter on a negative trajectory heading into 2022. 

The North American market is flat on a lack of export activity this week, but there is some…