International animal proteins prices were under significant pressure in the week to Thursday August 8. Market sources attributed overall pressure to lower soybean meal prices, which have continued to drop on expectations of strong harvest numbers and high global stock levels.

Prices in New Zealand were reported to be steady for the week to Thursday, with one market source saying, “Buyers are pushing back on prices; however, supply out of New Zealand remains very low at present.” This is limiting most price drops in the region, keeping them steady but under pressure for the near term.

Prices were lower week on week in the Australian export and domestic markets.

Meat and Livestock Australia reported cattle slaughter at 140,664 head for the week to August 2, up by 876 head week on week and by 18,951 head year on year.

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