Ruminant MBM prices traded sharply higher into the Asia-Pacific (APAC) markets as well as within the Australian and New Zealand market. Tight production in Australia contributed to the recent rally, driving domestic bovine prices above A$600 this week. The MLA estimated last week’s slaughter at just under 112,000 head, down 23 percent from year-ago levels. Delivered values for bovine MBM into are as high as $535/MT, and Indonesia was indicated as high as $495 CIF for New Zealand origin material.
Domestic US MBM prices moved higher for porcine and ruminant MBM. Production is expected to tighten on the ruminant MBM market, and porcine values have increased despite heavier production coming through October. Prices are very well valued versus soybean meal, and sellers have been able to leverage the favorable relative prices to soybean meal and the low prices relative to the CIF APAC…
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.
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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...
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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...