Trading was flat in the international market this week with no changes reported. The trade dynamics remained the same from last week-weak demand in the international market for US based meat and bone, especially porcine, due to better prices from the Australian and New Zealand markets.

Porcine MBM, on an ex-plant basis, is currently trading at 120 percent of the price of nearby soybean meal and higher for plants closer to shipping ports. These values have led to reformulations and there is a negative tone building in the US market amid improved availability in the spot market and on the weaker exports. However, US sellers have been able to find non-Asia destinations for material and sources have reported that demand from Mexico remains strong.

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