Most values were flat for Thursday, though there have been accounts of wider ranges on meat and bonemeal. Some participants indicated tighter inventory on ruminant meat and bonemeal due to lower slaughter levels the past several weeks, as well as accounts of slightly improved exports. However, others are still communicating excess from lower interest. 

November Feathermeal and Meatmeal Exports

Feathermeal (FM) has witnessed year-on-year rises in values for the first ten months of 2023. Inedible meatmeal (IE MM), however, has ebbed and flowed throughout the year. June showed the lowest volume since May of 2020, while September/October moved higher. This is due to a variety of challenges: lower slaughter levels on cattle, stronger USD relative to other countries, export challenges and diminished demand into Vietnam and Indonesia, higher freight costs, and global unease.

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