For the day, limited price adjustments were witnessed on most animal proteins. Bearish tones on meat and bonemeal was still conveyed, however, bulk market values have lingered within the previously set ranges.

Poultry-by items are exhibiting a push-and-pull structure, as limited offerings, and brisk demand limit spot price adjustments. The drop in the soybean meal has pushed prices for contracted purchase lower, which led to negative pressure from the buyers for the spot purchases in the market.

The limited spot supply has led to a wide range on chicken meal and heightened volatility on pet food grade poultry-by-product meal (PFG PBM). Quick ship material has been indicated as low as $925/st for spot salts. Meanwhile, spot sales have been done as high as $1200/st on limited volume, but for those needing to supplement their position.

April 2023 Dog and Cat Food Exports

According…