The Australian and New Zealand markets were steady this week with no changes reported. Market dynamics remain similar, increasing production on higher cattle slaughter and strong demand from the Asian and North American markets. The MLA estimated Australian national cattle slaughter at 107,850 head last week, up from the week prior and nearly 18,000 head over the year prior levels.

Trading out of the European market was relatively flat on Cat 3 products. Cat 1 was indicated at €700. Used cooking oil prices were lower into the ARA market and flat on a DDP Western Europe basis.

The U.S. market has been relatively quiet this week, but…