Steady values along with a quiet tone week were witnessed on the international animal proteins this week. A holiday in Australia limited trade for some regions while others were sitting on the sidelines due to the continued ebb and flow of the markets.

On the US interior, a highly unsettled tone was witnessed for most animal protein items, with a push-and-pull atmosphere noted. Lower slaughter than anticipated on most proteins as well as active demand paired with lower soybean meal and buyer pushback, has led to this environment on most items. Poultry-by pet grade (PG PBM) saw extensive pressure as higher relativity to soybean meal lowered contracts and in turn dropped spot value expectations. A low of $882/mt was witnessed on the SE region while a high of 1,047/mt was indicated in the Midwest on extremely tight offerings. Values above and below the ranges continues to be witnessed due to quick and forced shipments.

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