Meat and bone meal prices continue to trade lower on strong inventories and pressure from the soybean meal market. Trading into Indonesia fell to a range of $580 – 620 CIF today. Sources have reported that pre-Ramadan inventory building has pressured prices lower and buyers looking for post-Ramadan arrival are bidding lower numbers. Prices into Malaysia, Taiwan and Vietnam were reported in a range of $560 – 570 CIF for bovine MBM. The lower prices have affected the Australian market, pushing prices lower for domestic and export over the last week. The downturn in Australian prices comes despite a report from the NLRS that the first quarter cattle slaughter was the lowest in 20 years.
Pet grade poultry by product numbers were lower for US exports. The feathermeal and feed grade markets were both unchanged, but there is negative pressure building in the market on price. Again, strong inventory levels are pushing bids lower. Shipping issues continue across the globe with…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...