Meat and bone meal traded lower into China and Indonesia this week. Heavy supply continues to weigh on prices and lower demand tied to smaller chick numbers are pressuring prices lower into Indonesia.
Trading in the Australian market was unchanged this week. The lower numbers into the importing markets has been offset by a drop in production. Slaughter was down to just over 117,000 head for the Eastern States last week. The Brooklyn, Victoria JBS facility was closed after a few employees tested positive for COVID-19. Growing numbers of cases in New South Wales and Victoria have added risk for production interruptions in the near term. The beef industry seems to be in restocking mode with yearling steer prices up as much as 78 percent in some locations.
Ruminant MBM prices moved lower in the US market with trading topping out at $175/MT FOB plant in the interior. Strong production and an overall, oversupplied market…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...