New Zealand ovine meat and bone meal (MBM), 55 pro, traded up this week to a range of NZ$1,450-1,525 ($899-946) per tonne, supported by active demand from Europe, according to one market source.
But Indonesian bovine MBM imports traded down to a range of $475-490 per tonne CIF in the week ended Thursday December 18, pressured by slower demand.
Continued weakness in the US market may have contributed to the downturn into Indonesia, with mixed beef MBM selling as low as $207 per tonne FOB US interior this week.
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