Meat and bone meal (MBM) trading into Indonesia was quiet and price indications are unchanged from last week. Trading into China was lower at $550 – 580 CIF. Buyers have been able to leverage lower soybean meal prices to push the nearby MBM prices lower. 

Trading out of the Australian market was mostly unchanged. MBM prices remain supported by a lack of supply. Pure beef is trading as high as A$780 for export and mixed species is as low as A$720 for both export and domestic trading. Cattle slaughter was reported at 97,301 for last week by the MLA, down 4 percent from the week prior. Supply is expected to remain tight in the short term with herd rebuilding underway. Strong petfood and aquaculture demand are supporting the poultry meal and feathermeal markets. Spot availability for poultry meal and feathermeal remain limited due to strong commitments for contracted positions. Trading out of New Zealand was mostly flat, but 50 pro MBM fell on lower prices paid out of…