Ruminant meat and bone meal traded at lower levels into the Indonesia market this week. Cheaper North American material is working its way into the Asian markets and driving CIF prices lower. Australian and New Zealand sellers have cut their prices to remain competitive. Prices out of and within the Australian market fell to a range of A$400 – 450 today. Cattle slaughter in Australia is continuing at reduced rates as seasonal rains are helping keep the livestock on pasture. There are reports of abattoirs running 3 day week and a spike in COVID cases in Victoria is likely to add continued, tightness to the production side.

Trading in the US domestic market continues to move…