Australia and New Zealand meat and bonemeal (MBM), 45-50 pro, were reported lower for the week even with active demand from both regions. Demand for MBM continues to be strong, but supply has outpaced demand which has pressured prices lower.

The MLA estimated Australian national cattle harvest at 117,522 head for week ending July 14th. This is generally in line with last week and 19.0 percent or 18,767 head higher from last year. Slaughter levels continue to remain well above the prior year for 2023. Year-to-date as of July 14th is at 3.007 million, 23.1 percent or 564,824 head over 2022 for the respective time.

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