Trading into the China and Indonesia markets was steady this week, but buyers in both markets are pushing back on prices due to the availability of cheaper soybean meal. Protein prices in Australia and New Zealand were unchanged this week. Supplies are at risk for tightening on bovine products due to slaughter reductions. Cattle slaughter in Australia was estimated by the MLA at 123,346 head last week, down 2 percent from the week prior and 19 percent relative to last year. The Chinese government has banned beef imports from the four largest Australian abattoirs in response to the Australian government pressing for an independent investigation into the origins of the SARS-CoV-2 outbreak.
Prices in the US market for meat and bone meal have fallen due to the increase in slaughter. Porcine material in particular has seen the biggest impact of the surging supply. Prices are off as much as $200/MT FOB plant for material this week relative to two weeks ago. Mixed species MBM…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...