Animal Fats – International

Trading into Indonesia resumed this week with prices reported steady to slightly higher from the last traded level. Trading into China was higher with Australian origin material trading at a ceiling of US$450 CIF.

The Australian market was mostly unchanged this week with dynamics steady with the past few weeks. Slaughter remains tight with COVID restrictions and restocking limiting production. As COVID cases have increased in Victoria, shutdowns and a curfew have been extended to try to slow the outbreak. Cattle slaughter was estimated at just under 118,000 head last week, down 20 percent compared to year ago levels.

Trading in the US domestic market was marginally higher on MBM and feathermeal this week. The low prices have helped to attract increased export demand and the evacuation of some material has helped sellers leverage higher prices. Supply is expected to continue to be strong over the next six weeks, however, as…