04.24.2024
Biodiesel output strong in Q2; producers start locking in Q3-Q4 sales
A second producer echoed this sentiment and said they have had to work a bit harder to secure feedstock to line it up with sales at the right time.
Meat and bonemeal (MBM) prices into Indonesia are higher again this week on big pre and post-Ramadan demand. Prices indications into Indonesia are as high as $760 CIF. Trading into China was steady and indications into Malaysia, Taiwan and Vietnam were $650 – 660/mt CIF.
Australian MBM prices were reported in a wide range this week, $810 – 890 for both domestic and export. Supplies remain tight, but logistics issues may be creating some nearby buying opportunities at lower prices. Cattle slaughter remains low, affected by the flooding in Queensland and New South Wales. The MLA reported national cattle slaughter at 79,422 head last week, down 14.7 percent from the week prior and 23.3 percent from 2021 levels.
Prices in the US market continue to increase for ruminant and porcine MBM. Ruminant prices are up 39 percent over the last four weeks and porcine prices are up 22 percent. Despite the increases, both ruminant and porcine MBM are trading at a discount to soybean…