The top end of the bovine MBM market moved higher into Indonesia, with trading as high as $745 CIF. Buyers continue to pay a premium for quick shipments or perhaps, guaranteed timelines, for material out New Zealand. North American material is trading a substantial discount, but prices continue to move higher due to favorable pricing.
Slower production in Australia has contributed to higher prices for animal proteins. Cattle slaughter was higher last week, but remains well below 2019 and 2020 levels. Favorable pasturing conditions and negative margins for cattle are likely to keep production slow to start the year. Additionally, cattle ranchers are at a stage where herd rebuilding is necessary after big beef demand and high feed prices pushed a big increase in the heifer numbers through the abattoirs.
The US domestic market continues to move higher, albeit at a slower pace. Soybean meal is dictating direction, but with prices falling over…
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...