Big export volumes at low prices out of the US market have pushed Indonesia MBM values lower this week. Trading was reported in a range of $330 – 380 CIF Indonesia with US sales at the lower end of the range. Trading into China was sharply lower at $390 – 410 CIF.

Slaughter in Australia continue to run well behind 2018 and 2019 levels. Slower, winter production in both New Zealand and Australia is expected to tighten supply in the coming weeks. However, the cheaper US material has pressured export values lower and in turn pressured the domestic prices lower as well.

Trading in the US domestic market has been done at steady to lower prices over the last week. Porcine meat and bone meal has stabilized with support from strong export volumes booked into Mexico, Vietnam and a few other countries. Ruminant MBM continues to see negative price pressure on strong supply. Domestic trades have been done as high as $220/MT, but pure beef packer material is trading as low as…