Bovine meat and bone meal (MBM) prices were lower into China and Indonesia this week. Competition amongst sellers and perhaps some post-holiday sluggishness have led to the decline.
MBM prices were lower for export out of Australia and New Zealand this week, pressured by the price drop in the importing markets. Strong production in Australia has contributed to the negative pressure in the market as well.
The MLA estimated Australia’s weekly cattle slaughter at 116,179 head, marking a 2.59 percent positive year-on-year change, with year-to-date figure now at 960,282 head.
US prices have been largely range bound this week with few changes reported. Soybean meal posted back to back gains on the CME today and prices for March are higher, which is giving sellers optimism when looking ahead to April.
US Protein Exports

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