Ruminant Meat and Bonemeal Plummets in Several Regions

Ruminant Meat and Bonemeal Plummets in Several Regions

A slew of holdups on US exports to Vietnam and Indonesia along with a closure at a pet food processing plant created significant pressure on ruminant meat and bonemeal (MBM) for the start of the week. Excess offerings have been reported from several contacts with a traded low of $250/st reported, in limited volume, out of the Tx. Panhandle. A high of $430/st was reported on Mo River and Tx Panhandle but could not be confirmed in bulk as of press time.
Negative pressure has been indicated on MBM for several weeks, however, with the uptick on soybean meal and the proximity to the Thanksgiving holiday some are scratching their heads as to the timing. Communications of shipping delays or hurdles to Vietnam have been reported moving these items into the domestic market instead due to the case of fraud recently. Others have stated they are still moving into the region, but there are increased regulations and scrutiny.

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