04.25.2024
US heating oil, distillate fuel consumption lower than usual in Q1
In the first quarter of 2024, US prices for distillate fuel oil — which includes diesel fuels for vehicles and for home heating — was lower than the...
Meat and bone meal prices into Indonesia are higher this week on big demand and higher soybean meal prices. Buyers paid a premium for material with a shorter shipment time in order to guarantee pre-Ramadan arrival. Trading into China was steady this week in a range of US$690 – 710 CIF, trading into Malaysia, Taiwan and Vietnam was indicated around the US$680 CIF mark.
Australian MBM prices were lower for domestic trade, topping out at A$850. Supply remains an issue on the Australian market with flooding shutting down shipping lanes into the abattoirs. New Zealand prices are higher on big demand from the Indonesian market, topping out at NZ$890 for 50 pro bovine MBM.
The local US market continues to trade higher on most products. Favorable prices relative to nearby soybean meal and phosphate shortages have been the big driver of the market over the last month. Porcine MBM has had the biggest swing higher, trading for as much as $550/mt…